Photo: Tony Hisgett from Birmingham, UK · CC BY 2.026 homes sold in Elmwood in the last year, at a typical $161K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Elmwood homes are listed.
Every place Elmwood homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Elmwood.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 96% of Elmwood’s sales, at a typical $158K (year to May 2026)
26 homes sold in the year to September 2026.
typical sale · 27 sold in the year to May 2026
- Per square foot
- $89IL $180
- Days to sell
- 26
- Sold over asking
- 30%
- Listings with a price cut
- 46%
Multi-family (2–4 units): 1 sold, typical $135K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.7 times the 2016 price
26 sales in the last year, against 38 in 2013 and a low of 24 in 2012. The typical sale went from $94K in 2016 to $161K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $150K buys in Elmwood
Check a listing against what Elmwood homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Elmwood are more common than before the pandemic, but 79% fewer homes come up for sale
We read every month of Elmwood’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to September 2026, 26 sales.
If you’re buying in Elmwood
- Shop in July. It brings about 3 new listings a month, close to the busiest month, with fewer bidding wars (16% over asking).
- Offer under asking. Buyers paid 97.9% of the list price on average; 25% paid over.
- Move fast on good ones. 55% of homes are under contract within two weeks.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 3 a month), and the most competition: 31% close over asking. July and August offer nearly as much choice with fewer homes bid up (16%). December has the least competition (11%) but only about 1 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Illinois
| Elmwood now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 25% | 10% | 40% | 36% |
| Gone within two weeksShare of homes under contract within 14 days | 55% | 4% | 0% | 45% |
| Price paid vs. askingAverage sale price ÷ list price | 97.9% | 96.6% | 98.5% | 99% |
| Days to sellMedian days from listing to contract | 29 | 364 | 220 | 51 |
3 homes for sale on a typical day
That’s 79% fewer than in 2017–19 and well under 2012’s 22.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Elmwood home costs about $1,173 a month
Price: Elmwood’s typical sale, last 12 months. Property tax at Elmwood’s 2.5% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Elmwood is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. January has the fewest, about 1.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $161K home, about $4,000 a year.
Taxes vs. neighborsSchools
The schools grade for Elmwood, from test results, graduation and how much students grow.
Schools in ElmwoodCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Farmington, Canton and West Peoria sell for less a square foot; Lake Camelot, Oak Run and Dunlap for far more
The busier markets within 25 miles of Elmwood, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Canton | 185 | $114K | $76 | 23% | 41 |
| West Peoria | 90 | $124K | $85 | 33% | 26 |
| Oak Run | 42 | $400K | $187 | 13% | 56 |
| Elmwood | 26 | $161K | $88 | 25% | 29 |
| Lake Camelot | 26 | $275K | $121 | 15% | 31 |
| Farmington | 25 | $118K | $83 | 28% | 40 |
| Dunlap | 24 | $285K | $113 | 30% | 28 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Elmwood, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Elmwood. People who follow the town see it, and so do people comparing Elmwood with their own town. No commission, no listing fee.
Questions about buying a home in Elmwood
What do homes sell for in Elmwood, IL?
26 homes sold in the year to September 2026 at a typical $161K, $88 a square foot.
Is Elmwood a buyer’s or seller’s market?
A seller’s market: 2 homes were for sale in September 2026 and 1 sold, about 2 months of supply. Buyers paid 97.9% of asking on average.
When is the best time to buy in Elmwood?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Elmwood?
About 2.5% of a home’s value a year. On a $161K home that’s near $4,000.
Where can I see homes for sale in Elmwood?
Zillow, Redfin, Realtor.com and Homes.com all carry Elmwood’s MLS listings; the search links above open each one filtered to Elmwood.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).