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MILAN, IN 47031

Real Estate Market Report  ·  Ripley County
Balanced Market
September 2026  ·  Source: Realtor.com

Market Analysis

Data as of September 2026. Source: Realtor.com.

The MILAN, IN real estate market (47031) currently shows 11 active listings, with 2 pending sales. Homes are averaging 50 days on the market before going under contract.

Inventory has tightened compared to last year, with 2 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 50 days on market compared to 43 days last year.

The median listing price has risen 11.6% year-over-year, from $257,500 to $287,400.

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Market Context

Market Context

Population: 5,422  ·  Density: 33.0/mi²  ·  Median household income: $64,500

Typical home value: $187,473  ·  Homeownership: 75.5%

Market Overview

Active Listings
11
⇩ 15.4% vs 13 last year
Pending
2
18% pending ratio
Median Price
$287,400
⇧ 11.6% vs $257,500 last year
Average Price
$317,332
⇩ 4% vs $330,511 last year
Days on Market
50
⇧ 16.3% vs 43 days last year

Price Per Square Foot

Median $/sqft
$153
⇩ 12.1% vs $174/sqft last year
Median Home Size
1,842 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 11 this year vs 13 last year
  • Days on market: 50 now vs 43 last year

Median & Average Pricing

Year over Year
  • Median: $287,400 (+11.6% YoY)
  • Average: $317,332 (-4% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 23.0 miles — 293 listings ($113,627,054 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
47031Milan, IN 470310.0 mi13$4,409,756$310,000$339,212
47041Sunman, IN 470418.3 mi10$5,449,330$434,450$544,933
47042Versailles, IN 470429.7 mi4$1,870,552$404,975$467,638
47001Aurora, IN 4700111.6 mi24$6,848,568$260,000$285,357
47022Guilford, IN 4702212.1 mi4$2,049,000$512,250$512,250
47025Lawrenceburg, IN 4702515.0 mi55$21,702,120$327,498$394,584
41080Petersburg, KY 4108018.2 mi3$1,874,625$612,250$624,875
47036Oldenburg, IN 4703618.3 mi2$597,000$298,500$298,500
47060West Harrison, IN 4706018.8 mi5$2,151,460$442,975$430,292
45052North Bend, OH 4505220.1 mi4$3,890,000$972,500$972,500
47240Greensburg, IN 4724022.1 mi68$19,478,464$254,725$286,448
41005Burlington, KY 4100522.5 mi67$23,244,377$338,725$346,931
45002Cleves, OH 4500223.0 mi34$20,061,802$514,323$590,053

Frequently Asked Questions

How many homes are for sale in MILAN, IN 47031?

As of September 2026, there are 11 active listings in MILAN, IN (zip code 47031), compared to 13 the prior year.

What is the median home price in MILAN, IN 47031?

The median listing price in MILAN, IN 47031 is $287,400 as of September 2026, a 11.6% increase from $257,500 the prior year.

How long do homes stay on the market in MILAN, IN?

Homes in MILAN, IN 47031 spend an average of 50 days on the market before going under contract, compared to 43 days the prior year.

Is it a seller's or buyer's market in MILAN, IN 47031?

Based on current inventory and days-on-market data as of September 2026, MILAN, IN 47031 is currently a Balanced Market. Inventory has tightened compared to last year, with 2 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 50 days on market compared to 43 days last year.

How much can I save on real estate commission in MILAN, IN?

With SELL123.com's maximum 3% commission, sellers in MILAN, IN 47031 save an estimated $5,748 compared to a typical 5% commission on the median listing price of $287,400. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.