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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elwood is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Elwood, IN

How much do homes in Elwood, IN cost?

Median Sold Price

$155,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,000(+15.7%)

Key Takeaway

Homes in Elwood have sold for 15.7% more than they did a year ago.

Summary: The median home sold price in Elwood was $155,000 in October 2024, up 15.7% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $55K$74.1K
+34.7%
2 $108K$94.4K
-12.5%
3 $134K$155K
+15.7%
4 $178K$190K
+6.7%
5+ $210K$217K
+3.3%

Summary: Elwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.7%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Madison Township
+27.5%
Elwood
+15.7%
Pipe Creek Township
+14.0%

Housing Supply in Elwood, IN

How many homes are available in Elwood, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5961+3.4%

Summary: The Elwood real estate market had 61 homes for sale in October 2024, a 3.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 1017
+70.0%
3 3735
-5.4%
4 108
-20.0%
5+ 11
0.0%

Summary: The Elwood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 70%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1519+26.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elwood, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Elwood in October 2024, up by 26.7% month-over-month. Of the 19 sold homes, 37% were sold under asking, 37% were sold at asking, and 26% were sold over asking.

Days on Market for Elwood, IN

How long does it take to sell a home in Elwood, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days55 Days+123.0%

Summary: Homes in Elwood had an average of 55 days on market in Oct 2024, up by 123% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 19 homes were sold in Elwood; 37% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 11% 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 20 Days Ago

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