Is Elwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elwood has remained a Seller's Market.
Housing Prices in Elwood, IL
How much do homes in Elwood, IL cost?
Median Sold Price
$315,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Elwood was $315,000 in May 2024, up 26% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $230K | $265.7K | +15.6% |
3 Bedrooms | $257.5K | $341K | +32.4% |
4 Bedrooms | $360K | $417.5K | +16.0% |
5+ Bedrooms | $425K | $377K | -11.3% |
Summary: Elwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 32.4%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
Elwood | $250K | $315K | +26.0% |
Jackson Township | $284.9K | $312.5K | +9.7% |
Channahon | $335K | $365.5K | +9.1% |
Channahon Township | $346.7K | $365K | +5.3% |
Wilmington Township | $179.5K | $186K | +3.6% |
Housing Supply in Elwood, IL
How many homes are available in Elwood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 14 | +16.7% |
Summary: The Elwood real estate market had 14 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 1 | -75.0% |
3 Bedrooms | 5 | 11 | +120.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 75%, 3 bedroom homes increased by 120%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Elwood in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Elwood, IL
How long does it take to sell a home in Elwood, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -12.7% |
Summary: Homes in Elwood had an average of 16 days on market in May 2024, down by 12.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Elwood; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.