Is Elmwood, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elmwood is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Elmwood was a Neutral Market.

Key Takeaway

Elmwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Elmwood, IL

How much do homes in Elmwood, IL cost?

Median Sold Price

$1,136,500

$359/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$613,500(-35.1%)

Key Takeaway

Homes in Elmwood have sold for 35.1% less than they did a month ago.

Summary: The median home sold price in Elmwood was $1,136,500 in April 2024, down 35.1% from last month, and the median price per square foot was $359.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 --
N/A
3 --
N/A
4 -$973K
N/A
5+ $1.7M$1.6M
-8.0%

Summary: Elmwood housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 8%.

Housing Supply in Elmwood, IL

How many homes are available in Elmwood, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
660.0%

Summary: The Elmwood real estate market had 6 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 01
+100.0%
4 44
0.0%
5+ 21
-50.0%

Summary: The Elmwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elmwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Elmwood in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Elmwood, IL

How long does it take to sell a home in Elmwood, IL?

Average Sale Time

Mar 2024Apr 2024CHANGE
8 Days5 Days-34.4%

Summary: Homes in Elmwood had an average of 5 days on market in Apr 2024, down by 34.4% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elmwood are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 4 homes were sold in Elmwood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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