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ELWELL, MI 48832

Real Estate Market Report  ·  Gratiot County
Balanced Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The ELWELL, MI real estate market (48832) currently shows 2 active listings. Homes are averaging 152 days on the market before going under contract.

Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 152 days on market compared to 38 days last year.

The median listing price has fallen 0.8% year-over-year, from $133,000 to $132,000.

Whether you are buying or selling in ELWELL, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 1,276  ·  Density: 19.2/mi²  ·  Median household income: $61,974

Typical home value: $128,482  ·  Homeownership: 92.0%

Market Overview

Active Listings
2
⇩ 33.3% vs 3 last year
Pending
0
0% pending ratio
Median Price
$132,000
⇩ 0.8% vs $133,000 last year
Average Price
$132,000
⇩ 7.5% vs $142,633 last year
Days on Market
152
⇧ 300% vs 38 days last year

Price Per Square Foot

Median $/sqft
$97
⇧ 38.6% vs $70/sqft last year
Median Home Size
1,250 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 2 this year vs 3 last year
  • Days on market: 152 now vs 38 last year

Median & Average Pricing

Year over Year
  • Median: $132,000 (-0.8% YoY)
  • Average: $132,000 (-7.5% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 21.8 miles — 217 listings ($53,680,759 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
48832Elwell, MI 488320.0 mi5$665,000$135,000$133,000
48801Alma, MI 488015.6 mi46$11,279,936$211,000$245,216
48889Sumner, MI 488898.4 mi0$0$355,900$355,900
48880Saint Louis, MI 4888010.8 mi16$2,543,776$140,100$158,986
48829Edmore, MI 4882912.2 mi8$2,289,600$249,000$286,200
48858Mount Pleasant, MI 4885814.0 mi104$26,825,552$236,200$257,938
49310Blanchard, MI 4931015.6 mi6$1,024,824$170,750$170,804
48888Stanton, MI 4888817.5 mi12$3,305,532$240,000$275,461
48871Perrinton, MI 4887118.5 mi2$769,800$384,900$384,900
48886Six Lakes, MI 4888619.2 mi8$1,919,840$238,725$239,980
48878Rosebush, MI 4887820.7 mi3$900,999$320,000$300,333
48845Hubbardston, MI 4884521.4 mi3$1,596,000$532,000$532,000
48853Maple Rapids, MI 4885321.8 mi4$559,900$139,975$139,975

Frequently Asked Questions

How many homes are for sale in ELWELL, MI 48832?

As of March 2026, there are 2 active listings in ELWELL, MI (zip code 48832), compared to 3 the prior year.

What is the median home price in ELWELL, MI 48832?

The median listing price in ELWELL, MI 48832 is $132,000 as of March 2026, a 0.8% decrease from $133,000 the prior year.

How long do homes stay on the market in ELWELL, MI?

Homes in ELWELL, MI 48832 spend an average of 152 days on the market before going under contract, compared to 38 days the prior year.

Is it a seller's or buyer's market in ELWELL, MI 48832?

Based on current inventory and days-on-market data as of March 2026, ELWELL, MI 48832 is currently a Balanced Market. Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 152 days on market compared to 38 days last year.

How much can I save on real estate commission in ELWELL, MI?

With SELL123.com's maximum 3% commission, sellers in ELWELL, MI 48832 save an estimated $2,640 compared to a typical 5% commission on the median listing price of $132,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.