Is Elsmere, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elsmere is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Elsmere was a Seller's Market.

Key Takeaway

Elsmere is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Elsmere, CO

How much do homes in Elsmere, CO cost?

Median Sold Price

$469,000

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,900(-1.2%)

Key Takeaway

Homes in Elsmere have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in Elsmere was $469,000 in May 2024, down 1.2% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $390K$368.7K
-5.4%
3 $430K$450K
+4.7%
4 $487.3K$545K
+11.8%
5+ $578K$535K
-7.4%

Summary: Elsmere 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 decreased by 5.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 7.4%.

Median Sold Price Compared To Nearby Cities

Colorado Springs
0.0%
Elsmere
-1.2%
Black Forest-Peyton
-1.4%
Peyton
-3.8%

Housing Supply in Elsmere, CO

How many homes are available in Elsmere, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
255419+64.3%

Summary: The Elsmere real estate market had 419 homes for sale in May 2024, a 64.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 2848
+71.4%
3 115187
+62.6%
4 68115
+69.1%
5+ 4469
+56.8%

Summary: The Elsmere 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 increased by 71.4%, 3 bedroom homes increased by 62.6%, 4 bedroom homes increased by 69.1%, and 5+ bedroom homes increased by 56.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2731+14.8%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elsmere, expect to pay close to the asking price. 51.6% of homes here sold near the asking price last month.

Summary: A total of 31 homes were sold or pending in Elsmere in May 2024, up by 14.8% month-over-month. Of the 31 sold homes, 23% were sold under asking, 52% were sold at asking, and 26% were sold over asking.

Days on Market for Elsmere, CO

How long does it take to sell a home in Elsmere, CO?

Average Sale Time

May 2023May 2024CHANGE
10 Days36 Days+253.7%

Summary: Homes in Elsmere had an average of 36 days on market in May 2024, up by 253.7% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elsmere are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 31 homes were sold in Elsmere; 58% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 13% 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 1 Day Ago

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