Is Elmore County, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Elmore County has remained a Seller's Market.
Key Takeaway
Elmore County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elmore County, AL
How much do homes in Elmore County, AL cost?
Median Sold Price
$254,758
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Elmore County have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Elmore County was $254,758 in April 2024, up 1.6% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.6K | $95K | +25.7% |
| 2 Bedrooms | $124K | $120K | -3.2% |
| 3 Bedrooms | $211.8K | $224.9K | +6.1% |
| 4 Bedrooms | $310K | $314.2K | +1.4% |
| 5+ Bedrooms | $431K | $436.9K | +1.4% |
Summary: Elmore County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Counties
| Elmore County | $250.7K | $254.7K | +1.6% |
| Montgomery County | $173.7K | $174.9K | +0.7% |
Housing Supply in Elmore County, AL
How many homes are available in Elmore County, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 327 | 361 | +10.4% |
Summary: The Elmore County real estate market had 361 homes for sale in April 2024, a 10.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 22 | +29.4% |
| 3 Bedrooms | 154 | 172 | +11.7% |
| 4 Bedrooms | 131 | 135 | +3.1% |
| 5+ Bedrooms | 24 | 30 | +25.0% |
Summary: The Elmore County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 | 77 | 0.0% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmore County, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 77 homes were sold or pending in Elmore County in April 2024, the same as the previous month. Of the 77 sold homes, 40% were sold under asking, 43% were sold at asking, and 17% were sold over asking.
Days on Market for Elmore County, AL
How long does it take to sell a home in Elmore County, AL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 69 Days | +12.8% |
Summary: Homes in Elmore County had an average of 69 days on market in Apr 2024, up by 12.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
38 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elmore County has remained consistent over time.
Summary: During April 2024, 77 homes were sold in Elmore County; 27% of homes were sold within 30 days, 49% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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