Is Elsmere, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Elsmere was a Seller's Market.
Key Takeaway
Elsmere is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elsmere, CO
How much do homes in Elsmere, CO cost?
Median Sold Price
$474,962
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elsmere have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Elsmere was $474,962 in March 2024, up 2.3% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $380K | $362.5K | -4.6% |
| 3 Bedrooms | $430K | $439.4K | +2.2% |
| 4 Bedrooms | $490K | $544.5K | +11.1% |
| 5+ Bedrooms | $575K | $575K | 0.0% |
Summary: Elsmere housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.6%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Elsmere | $464.2K | $474.9K | +2.3% |
| Peyton | $544K | $553.5K | +1.7% |
| Southeastern El Paso | $449.9K | $450K | 0.0% |
| Black Forest-Peyton | $675.9K | $669.6K | -0.9% |
| Colorado Springs | $474.5K | $464.8K | -2.1% |
Housing Supply in Elsmere, CO
How many homes are available in Elsmere, CO?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 228 | 331 | +45.2% |
Summary: The Elsmere real estate market had 331 homes for sale in March 2024, a 45.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 38 | +81.0% |
| 3 Bedrooms | 116 | 158 | +36.2% |
| 4 Bedrooms | 69 | 99 | +43.5% |
| 5+ Bedrooms | 22 | 36 | +63.6% |
Summary: The Elsmere 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 increased by 81%, 3 bedroom homes increased by 36.2%, 4 bedroom homes increased by 43.5%, and 5+ bedroom homes increased by 63.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elsmere, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in Elsmere in March 2024, up by 18.8% month-over-month. Of the 38 sold homes, 42% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Elsmere, CO
How long does it take to sell a home in Elsmere, CO?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 40 Days | +19.0% |
Summary: Homes in Elsmere had an average of 40 days on market in Mar 2024, up by 19% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elsmere are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 38 homes were sold in Elsmere; 66% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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