Is Elwood, IL 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, Elwood has remained a Seller's Market.
Housing Prices in Elwood, IL
How much do homes in Elwood, IL cost?
Median Sold Price
$315,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elwood was $315,000 in March 2024, up 31.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $225K | $247.5K | +10.0% |
3 Bedrooms | $255.1K | $335K | +31.3% |
4 Bedrooms | $327K | $375K | +14.7% |
5+ Bedrooms | $285K | $429K | +50.5% |
Summary: Elwood 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 increased by 10%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 50.5%.
Median Sold Price Compared To Nearby Cities
Elwood | $240K | $315K | +31.3% |
Jackson Township | $275K | $300K | +9.1% |
Channahon | $335K | $363K | +8.4% |
Channahon Township | $339.9K | $360K | +5.9% |
Wilmington Township | $188K | $180K | -4.3% |
Housing Supply in Elwood, IL
How many homes are available in Elwood, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Summary: The Elwood real estate market had 16 homes for sale in March 2024, a 14.3% 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 | 5 | 5 | 0.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Elwood 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 6 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Elwood in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Elwood, IL
How long does it take to sell a home in Elwood, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 64 Days | +54.2% |
Summary: Homes in Elwood had an average of 64 days on market in Mar 2024, up by 54.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Elwood; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.