Is Elmore County, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Elmore County has remained a Seller's Market.
Key Takeaway
Elmore County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elmore County, AL
How much do homes in Elmore County, AL cost?
Median Sold Price
$255,957
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elmore County have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Elmore County was $255,957 in March 2024, up 2.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135.3K | $95K | -29.8% |
| 2 Bedrooms | $120.2K | $126.4K | +5.1% |
| 3 Bedrooms | $210.3K | $221K | +5.1% |
| 4 Bedrooms | $310K | $319.6K | +3.1% |
| 5+ Bedrooms | $431K | $436.9K | +1.4% |
Summary: Elmore County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.8%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Counties
| Elmore County | $250K | $255.9K | +2.4% |
| Montgomery County | $172.8K | $175K | +1.2% |
Housing Supply in Elmore County, AL
How many homes are available in Elmore County, AL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 314 | 332 | +5.7% |
Summary: The Elmore County real estate market had 332 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 16 | -5.9% |
| 3 Bedrooms | 146 | 158 | +8.2% |
| 4 Bedrooms | 127 | 130 | +2.4% |
| 5+ Bedrooms | 23 | 27 | +17.4% |
Summary: The Elmore County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 17.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 79 | +6.8% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmore County, expect to pay close to the asking price. 45.6% of homes here sold near the asking price last month.
Summary: A total of 79 homes were sold or pending in Elmore County in March 2024, up by 6.8% month-over-month. Of the 79 sold homes, 35% were sold under asking, 46% were sold at asking, and 19% were sold over asking.
Days on Market for Elmore County, AL
How long does it take to sell a home in Elmore County, AL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 59 Days | -27.7% |
Summary: Homes in Elmore County had an average of 59 days on market in Mar 2024, down by 27.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elmore County has remained consistent over time.
Summary: During March 2024, 79 homes were sold in Elmore County; 30% of homes were sold within 30 days, 51% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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