$3,705 Closing Credit*
$312,000
1,218 SqFt
2 Beds
•2 Full Baths
Tammy Heckart, Listing Office: RE/MAX Concepts
Is Elkhart, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Elkhart has remained a Seller's Market.
Key Takeaway
Elkhart is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elkhart, IA
How much do homes in Elkhart, IA cost?
Median Sold Price
$302,500
$253/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$90,500(+42.7%)
Key Takeaway
Homes in Elkhart have sold for 42.7% more than they did a month ago.
Summary: The median home sold price in Elkhart was $302,500 in October 2024, up 42.7% from last month, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $202K | $137K | -32.2% |
| 3 Bedrooms | $247.7K | $296.2K | +19.6% |
| 4 Bedrooms | - | $402K | N/A |
| 5+ Bedrooms | - | $484.5K | N/A |
Summary: Elkhart housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.2%, 3 bedroom homes increased by 19.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Elkhart | $212K | $302.5K | +42.7% |
| Elkhart Township | $269.9K | $290K | +7.4% |
Housing Supply in Elkhart, IA
How many homes are available in Elkhart, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Summary: The Elkhart real estate market had 8 homes for sale in October 2024, a 27.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Elkhart housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elkhart, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Elkhart in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Elkhart, IA
How long does it take to sell a home in Elkhart, IA?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 Days | 12 Days | -85.6% |
Summary: Homes in Elkhart had an average of 12 days on market in Oct 2024, down by 85.6% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elkhart are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Elkhart; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
