Is Elwood Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elwood Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Elwood Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Elwood Township, IL

How much do homes in Elwood Township, IL cost?

Median Sold Price

$407,500

$151/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

+$93,950(+30.0%)

Key Takeaway

Homes in Elwood Township have sold for 30% more than they did a month ago.

Summary: The median home sold price in Elwood Township was $407,500 in March 2024, up 30% from last month, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 $273K$172K
-37.0%
3 $346.1K$405K
+17.0%
4 -$452.5K
N/A
5+ $429K-
N/A

Summary: Elwood Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 37%, 3 bedroom homes increased by 17%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Elwood Township, IL

How many homes are available in Elwood Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1516+6.7%

Summary: The Elwood Township real estate market had 16 homes for sale in March 2024, a 6.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 55
0.0%
3 66
0.0%
4 24
+100.0%
5+ 21
-50.0%

Summary: The Elwood Township 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 remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
46+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elwood Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Elwood Township 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 Township, IL

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

Average Sale Time

Feb 2024Mar 2024CHANGE
76 Days64 Days-16.3%

Summary: Homes in Elwood Township had an average of 64 days on market in Mar 2024, down by 16.3% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 6 homes were sold in Elwood Township; 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.

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

Report Updated 17 Days Ago

Newest Listings in Elwood Township, IL

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