Is Elmore County, AL 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, 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
$256,300
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elmore County have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Elmore County was $256,300 in May 2024, up 2.5% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.6K | $95K | +25.7% |
| 2 Bedrooms | $145.4K | $125K | -14.1% |
| 3 Bedrooms | $210.8K | $225K | +6.7% |
| 4 Bedrooms | $309.7K | $319.9K | +3.3% |
| 5+ Bedrooms | $431K | $443K | +2.8% |
Summary: Elmore County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Counties
| Elmore County | $250K | $256.3K | +2.5% |
| Montgomery County | $174.9K | $176.2K | +0.7% |
Housing Supply in Elmore County, AL
How many homes are available in Elmore County, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 352 | 367 | +4.3% |
Summary: The Elmore County real estate market had 367 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 22 | 21 | -4.5% |
| 3 Bedrooms | 167 | 174 | +4.2% |
| 4 Bedrooms | 131 | 135 | +3.1% |
| 5+ Bedrooms | 30 | 35 | +16.7% |
Summary: The Elmore County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 100 | +25.0% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmore County, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 100 homes were sold or pending in Elmore County in May 2024, up by 25.0% month-over-month. Of the 100 sold homes, 45% were sold under asking, 32% were sold at asking, and 23% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 59 Days | +12.2% |
Summary: Homes in Elmore County had an average of 59 days on market in May 2024, up by 12.2% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elmore County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 100 homes were sold in Elmore County; 43% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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