$1,710 Closing Credit*
$144,000
2,576 SqFt
6 Beds
•2 Full Baths
#50162577, Scott Fader, Listing Office: Joseph Walter Realty LLC
Is Elwell, MI 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, Elwell has remained a Seller's Market.
Key Takeaway
Elwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elwell, MI
How much do homes in Elwell, MI cost?
Median Sold Price
$261,500
$125/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$65,250(+33.2%)
Key Takeaway
Homes in Elwell have sold for 33.2% more than they did a month ago.
Summary: The median home sold price in Elwell was $261,500 in November 2024, up 33.2% from last month, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $117.5K | - | N/A |
| 3 Bedrooms | $275K | $261.5K | -4.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Elwell housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Elwell | $196.2K | $261.5K | +33.2% |
| Seville Township | $196.2K | $229K | +16.7% |
| Sumner Township | $184K | $185K | 0.5% |
Housing Supply in Elwell, MI
How many homes are available in Elwell, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Summary: The Elwell real estate market had 2 homes for sale in November 2024, a 50.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elwell housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elwell, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Elwell in November 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Elwell, MI
How long does it take to sell a home in Elwell, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 Days | 107 Days | +121.6% |
Summary: Homes in Elwell had an average of 107 days on market in Nov 2024, up by 121.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Elwell are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 2 homes were sold in Elwell; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.