$4,155 Closing Credit*
$349,900
2,048 SqFt
John Kanagie, Listing Office: RE/MAX Truist
Is Elmwood, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Elmwood was a Seller's Market.
Key Takeaway
Elmwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elmwood, PA
How much do homes in Elmwood, PA cost?
Median Sold Price
$155,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+3.3%)
Key Takeaway
Homes in Elmwood have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Elmwood was $155,000 in October 2024, up 3.3% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $80K | $96.2K | +20.3% |
| 3 Bedrooms | $145K | $145K | 0.0% |
| 4 Bedrooms | $167.2K | $190K | +13.6% |
| 5+ Bedrooms | $207.5K | - | N/A |
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 20.3%, 3 bedroom homes did not change, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Mount Moriah | $95K | $109.5K | +15.3% |
| Elmwood | $150K | $155K | +3.3% |
| Southwest Philadelphia | $150K | $145K | -3.3% |
Housing Supply in Elmwood, PA
How many homes are available in Elmwood, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 72 | 84 | +16.7% |
Summary: The Elmwood real estate market had 84 homes for sale in October 2024, a 16.7% increase 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 | 8 | 10 | +25.0% |
| 3 Bedrooms | 54 | 64 | +18.5% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
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 increased by 25%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Elmwood in October 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for Elmwood, PA
How long does it take to sell a home in Elmwood, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 29 Days | -55.4% |
Summary: Homes in Elmwood had an average of 29 days on market in Oct 2024, down by 55.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was 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, 11 homes were sold in Elmwood; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
