Is Elwood, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elwood is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Elwood, IN

How much do homes in Elwood, IN cost?

Median Sold Price

$136,000

$84/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$6,000(+4.6%)

Key Takeaway

Homes in Elwood have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Elwood was $136,000 in May 2024, up 4.6% from last year, and the median price per square foot was $84.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$57.5K
N/A
2 $114K$99K
-13.2%
3 $134K$135.5K
+1.1%
4 $189.9K$185K
-2.6%
5+ $210K$217K
+3.3%

Summary: Elwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.2%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Elwood
+4.6%
Pipe Creek Township
+3.7%
Madison Township
-3.0%

Housing Supply in Elwood, IN

How many homes are available in Elwood, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4952+6.1%

Summary: The Elwood real estate market had 52 homes for sale in May 2024, a 6.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 13
+200.0%
2 1511
-26.7%
3 2127
+28.6%
4 98
-11.1%
5+ 33
0.0%

Summary: The Elwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1118+63.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Elwood in May 2024, up by 63.6% month-over-month. Of the 18 sold homes, 50% were sold under asking, 39% were sold at asking, and 11% were sold over asking.

Days on Market for Elwood, IN

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

Average Sale Time

May 2023May 2024CHANGE
43 Days32 Days-26.2%

Summary: Homes in Elwood had an average of 32 days on market in May 2024, down by 26.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Elwood; 56% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% 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 1 Day Ago

Newest Listings in Elwood, IN

Nearby Markets to Elwood, IN

What housing markets are near Elwood, IN?