$1,959 Closing Credit*
$165,000
Lisa Inman, Listing Office: BHHS Central Illinois, REALTORS®
Is Elmwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Elmwood has remained a Seller's Market.
Key Takeaway
Elmwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elmwood, IL
How much do homes in Elmwood, IL cost?
Median Sold Price
$149,250
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,250(+25.4%)
Key Takeaway
Homes in Elmwood have sold for 25.4% more than they did a year ago.
Summary: The median home sold price in Elmwood was $149,250 in October 2024, up 25.4% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $81.2K | $132K | +62.5% |
| 3 Bedrooms | $123K | $149.2K | +21.3% |
| 4 Bedrooms | $172.2K | $126K | -26.9% |
| 5+ Bedrooms | $183K | $265.9K | +45.3% |
Summary: Elmwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 62.5%, 3 bedroom homes increased by 21.3%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes increased by 45.3%.
Median Sold Price Compared To Nearby Cities
| Elmwood | $119K | $149.2K | +25.4% |
| Elmwood Township | $123K | $149.2K | +21.3% |
Housing Supply in Elmwood, IL
How many homes are available in Elmwood, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Summary: The Elmwood real estate market had 9 homes for sale in October 2024, a 25.0% 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 | 2 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Elmwood 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 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 Elmwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Elmwood in October 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Elmwood, IL
How long does it take to sell a home in Elmwood, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 5 Days | -56.3% |
Summary: Homes in Elmwood had an average of 5 days on market in Oct 2024, down by 56.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elmwood are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Elmwood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.