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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elmwood is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Elmwood was a Neutral 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, TN

How much do homes in Elmwood, TN cost?

Median Sold Price

$335,000

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$14,500(+4.5%)

Key Takeaway

Homes in Elmwood have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Elmwood was $335,000 in September 2024, up 4.5% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $193.2K$189.9K
-1.7%
2 $179.9K$330K
+83.4%
3 $329.5K$340K
+3.2%
4 $299.9K$585K
+95.1%
5+ --
N/A

Summary: Elmwood housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes increased by 83.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 95.1%, and 5+ bedroom homes did not change.

Housing Supply in Elmwood, TN

How many homes are available in Elmwood, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1516+6.7%

Summary: The Elmwood real estate market had 16 homes for sale in September 2024, a 6.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1011
+10.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Elmwood housing inventory by bedroom type for September 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 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elmwood, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Elmwood in September 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Elmwood, TN

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

Average Sale Time

Sep 2023Sep 2024CHANGE
15 Days37 Days+150.0%

Summary: Homes in Elmwood had an average of 37 days on market in Sep 2024, up by 150% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Elmwood has remained consistent over time.

Summary: During September 2024, 2 homes were sold in Elmwood; 0% of homes were sold within 30 days, 100% 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 Sep 1, 2024

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