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Sarah Mitchell
Compass Real Estate · ZIP 47404
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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47404 ZIP Code Housing Market
$359,000median sale price
What is the 47404 housing market like right now?
The median home sale price in ZIP code 47404 is $359,000, up 2.6% year-over-year. Homes sell in an average of 58 days with 104 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 47404 ZIP code a buyer's or seller's market?
ZIP code 47404 is currently a leaning buyer's and homes selling in about 58 days. How we determine this →
What are the latest 47404 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $359,000 |
| Median list price | $326,950 |
| Year-over-year price change | +2.6% |
| Average days on market | 58 days |
| Active inventory | 104 listings |
| Sale-to-list price ratio | 97.4% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 47404 zip code, located in Ellettsville, IN, is currently classified as a leaning buyer's. The median sale price stands at $359,000, representing a +2.6% change year over year. Homes in this area spend an average of 58 days on the market before going under contract. There are currently 104 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 47404 sits in the Ellettsville, IN area, roughly 2 miles from downtown Ellettsville. Because home prices are set street by street, this ZIP can move differently from Ellettsville's citywide averages. The figures below reflect 47404 specifically — drawn from Redfin transactions, U.S. Census data for its 22,744 residents, and Zillow value estimates.
Homes sold
98
Last 12 weeks
Days on market
58
Average pace
Active listings
104
Sale-to-list
97.4%
Below asking
What is driving the 47404 housing market?
The 47404 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 97.4% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 47404 have increased +2.6% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 47404 stands at $319,034, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,488 per month. This gives a price-to-rent ratio of approximately 17.9, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 47404?
Population
22,744
Median income
$61,389/yr
Median age
34.4 years
Owner-occupied
57.8%
College grads
45.0%
Avg commute
18.13 min
What is it like living in 47404?
Zip code 47404 is home to approximately 22,744 residents. The median household income is $61,389 per year, which shapes the types of homes and amenities available in the area. With a median age of 34.4 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 57.8% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 45.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 18.13 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 47404.
Which public schools serve ZIP 47404?
8 schools tracked · 4,065 students
The largest public schools serving ZIP code 47404 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Bloomington High School North
Grades 9-12 · 1,562 students
Edgewood Primary School
Grades K-2 · 659 students
Edgewood Intermediate School
Grades 3-5 · 597 students
Tri-North Middle School
Grades 7-8 · 543 students
Fairview Elementary School
Grades PK-6 · 376 students
Arlington Heights Elementary Sch
Grades PK-6 · 322 students
Hoosier Hills Childcare Center
Grades PK · 6 students
Hoosier Hills Career Center
Grades 6-12
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 47404
What is the median home price in 47404?
The current median sale price in 47404 is $359,000, based on recent Redfin transaction data. Prices have changed +2.6% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 47404 a buyer's or seller's market?
The 47404 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 47404?
Zip code 47404 has a population of approximately 22,744 residents. The median household income is $61,389 per year. About 57.8% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 47404?
Properties Incorporated provides comprehensive data for 47404 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 47404 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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