$1,780 Closing Credit*
$149,900
1,170 SqFt
3 Beds
•1 Full Bath
Ben Slater, Listing Office: RE/MAX Preferred - Newtown Square
Is Elmwood, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Elmwood was a Seller's Market.
Key Takeaway
Elmwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elmwood, PA
How much do homes in Elmwood, PA cost?
Median Sold Price
$157,750
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,750(+8.8%)
Key Takeaway
Homes in Elmwood have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Elmwood was $157,750 in November 2024, up 8.8% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $80K | $120K | +50.0% |
| 3 Bedrooms | $140K | $153.5K | +9.6% |
| 4 Bedrooms | $167.2K | $190K | +13.6% |
| 5+ Bedrooms | $207.5K | - | N/A |
Summary: Elmwood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Mount Moriah | $80K | $115K | +43.8% |
| Elmwood | $145K | $157.7K | +8.8% |
| Southwest Philadelphia | $143.6K | $149.7K | +4.2% |
Housing Supply in Elmwood, PA
How many homes are available in Elmwood, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 83 | +10.7% |
Summary: The Elmwood real estate market had 83 homes for sale in November 2024, a 10.7% increase 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 | 6 | 9 | +50.0% |
| 3 Bedrooms | 60 | 63 | +5.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elmwood 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 increased by 50%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Elmwood in November 2024, the same as the previous month. Of the 12 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 61 Days | +11.1% |
Summary: Homes in Elmwood had an average of 61 days on market in Nov 2024, up by 11.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 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 November 2024, 12 homes were sold in Elmwood; 42% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
