Is Elmwood, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elmwood is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Elmwood has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Elmwood, TN

How much do homes in Elmwood, TN cost?

Median Sold Price

$537,000

$335/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$302,000(+128.5%)

Key Takeaway

Homes in Elmwood have sold for 128.5% more than they did a month ago.

Summary: The median home sold price in Elmwood was $537,000 in November 2024, up 128.5% from last month, and the median price per square foot was $335.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $201.2K-
N/A
3 $259.9K$537K
+106.6%
4 --
N/A
5+ --
N/A

Summary: Elmwood 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 increased by 106.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Elmwood
+128.5%
Chestnut Mound
+35.4%
Gordonsville
+20.9%
Hickman
+3.1%

Housing Supply in Elmwood, TN

How many homes are available in Elmwood, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1312-7.7%

Summary: The Elmwood real estate market had 12 homes for sale in November 2024, a 7.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 88
0.0%
4 22
0.0%
5+ 00
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 decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elmwood, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Elmwood in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Elmwood, TN

How long does it take to sell a home in Elmwood, TN?

Average Sale Time

Oct 2024Nov 2024CHANGE
58 Days50 Days-15.0%

Summary: Homes in Elmwood had an average of 50 days on market in Nov 2024, down by 15% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Elmwood has remained consistent over time.

Summary: During November 2024, 3 homes were sold in Elmwood; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% 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 2 Days Ago

Newest Listings in Elmwood, TN

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