Is Elkhart, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkhart is a 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, IN

How much do homes in Elkhart, IN cost?

Median Sold Price

$235,325

$128/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$8,325(+3.7%)

Key Takeaway

Homes in Elkhart have sold for 3.7% more than they did a month ago.

Summary: The median home sold price in Elkhart was $235,325 in October 2024, up 3.7% from last month, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $94K-
N/A
2 $160K$180.7K
+13.0%
3 $246K$262.5K
+6.7%
4 $267.5K$230.1K
-14.0%
5+ $368K$1.3M
+279.1%

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 increased by 13%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes increased by 279.1%.

Median Sold Price Compared To Nearby Cities

Osolo Township
+18.4%
Elkhart
+3.7%
Concord Township
-9.1%
Cleveland Township
-22.5%
Baugo Township
-29.7%

Housing Supply in Elkhart, IN

How many homes are available in Elkhart, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
277320+15.5%

Summary: The Elkhart real estate market had 320 homes for sale in October 2024, a 15.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 31
-66.7%
2 4151
+24.4%
3 141164
+16.3%
4 7585
+13.3%
5+ 1719
+11.8%

Summary: The Elkhart housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 11.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
7372-1.4%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkhart, you may be able to get a good deal. 38.8% of homes here sold below asking price last month.

Summary: A total of 72 homes were sold or pending in Elkhart in October 2024, down by 1.4% month-over-month. Of the 67 sold homes, 39% were sold under asking, 34% were sold at asking, and 27% were sold over asking.

Days on Market for Elkhart, IN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Elkhart, IN

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