Is Velpen, IN 47590 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Velpen is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Velpen housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Pike County, IN

Population	544
Median income	$104,773
Average income	$113,563
Median home value	$222,100
Owner-occupied	89% of homes
Median year built	1984

Natural hazard riskTornadoes (relatively high), winter storms (relatively high), earthquakes (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 47590; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 47590

Prefilled for 47590Can I win this house?Multiple-offer likelihood for a listing Prefilled for 47590Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Otwell 47564Seller’s market $137 /sq ft Petersburg 47567Balanced $125 /sq ft Spurgeon 47584Seller’s market $49 /sq ft Stendal 47585 $135 /sq ft Browse all markets →

Where Velpen is

Loading map…

Questions about Velpen real estate

What are property taxes in Velpen?

About 0.78% of a home’s value a year in Pike County, or roughly $3,120 on a $400,000 home.

Local agents

See all agents in 47590 →

No sponsored agents in 47590 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 47590

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Pike County property taxes Pike County loan limits Closing costs in Indiana Hottest ZIP codes in Indiana

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="47590"><a href="https://offerbacked.com/market/47590">Velpen, IN 47590 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology