Is Elmwood, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Elmwood was a Seller's Market.
Key Takeaway
Elmwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elmwood, PA
How much do homes in Elmwood, PA cost?
Median Sold Price
$140,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Elmwood has remained the same since last year.
Summary: The median home sold price in Elmwood was $140,000 in April 2024, the same as last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115.5K | $80K | -30.7% |
| 3 Bedrooms | $139.9K | $136.2K | -2.6% |
| 4 Bedrooms | $185K | $169.4K | -8.4% |
| 5+ Bedrooms | $199K | $207.5K | +4.3% |
Summary: Elmwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.7%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Paschall | $94.7K | $169K | +78.4% |
| Elmwood | $139.9K | $140K | 0.0% |
| Southwest Philadelphia | $145K | $139.9K | -3.4% |
| Mount Moriah | $102.5K | $81K | -21.0% |
Housing Supply in Elmwood, PA
How many homes are available in Elmwood, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 76 | 82 | +7.9% |
Summary: The Elmwood real estate market had 82 homes for sale in April 2024, a 7.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 61 | 67 | +9.8% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
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 9.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Elmwood in April 2024, down by 18.2% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.
Days on Market for Elmwood, PA
How long does it take to sell a home in Elmwood, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 72 Days | +66.6% |
Summary: Homes in Elmwood had an average of 72 days on market in Apr 2024, up by 66.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elmwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Elmwood; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
