Is Elwood, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elwood has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $57.5K | N/A |
2 Bedrooms | $114K | $99K | -13.2% |
3 Bedrooms | $134K | $135.5K | +1.1% |
4 Bedrooms | $189.9K | $185K | -2.6% |
5+ Bedrooms | $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 | $130K | $136K | +4.6% |
Pipe Creek Township | $135K | $140K | +3.7% |
Madison Township | $195.8K | $190K | -3.0% |
Housing Supply in Elwood, IN
How many homes are available in Elwood, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 52 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 15 | 11 | -26.7% |
3 Bedrooms | 21 | 27 | +28.6% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 3 | 3 | 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 2024 | May 2024 | CHANGE |
---|---|---|
11 | 18 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 32 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
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.