Is Elbert County, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elbert County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Elbert County, CO

How much do homes in Elbert County, CO cost?

Median Sold Price

$617,450

$290/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$82,549(-11.8%)

Key Takeaway

Homes in Elbert County have sold for 11.8% less than they did a year ago.

Summary: The median home sold price in Elbert County was $617,450 in May 2024, down 11.8% from last year, and the median price per square foot was $290.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$296K
N/A
2 $335K$459K
+37.0%
3 $582K$515.5K
-11.4%
4 $700K$649.5K
-7.2%
5+ $890K$860K
-3.4%

Summary: Elbert County 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 increased by 37%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes decreased by 3.4%.

Median Sold Price Compared To Nearby Counties

El Paso County
+0.7%
Arapahoe County
0%
Douglas County
-1.1%
Elbert County
-11.8%

Housing Supply in Elbert County, CO

How many homes are available in Elbert County, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
198267+34.8%

Summary: The Elbert County real estate market had 267 homes for sale in May 2024, a 34.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 59
+80.0%
3 77101
+31.2%
4 7195
+33.8%
5+ 4359
+37.2%

Summary: The Elbert County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 80%, 3 bedroom homes increased by 31.2%, 4 bedroom homes increased by 33.8%, and 5+ bedroom homes increased by 37.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3661+69.4%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elbert County, you may be able to get a good deal. 45.9% of homes here sold below asking price last month.

Summary: A total of 61 homes were sold or pending in Elbert County in May 2024, up by 69.4% month-over-month. Of the 61 sold homes, 46% were sold under asking, 28% were sold at asking, and 26% were sold over asking.

Days on Market for Elbert County, CO

How long does it take to sell a home in Elbert County, CO?

Average Sale Time

May 2023May 2024CHANGE
41 Days30 Days-25.5%

Summary: Homes in Elbert County had an average of 30 days on market in May 2024, down by 25.5% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 61 homes were sold in Elbert County; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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 Elbert County, CO

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