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ELWOOD, IL 60421

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

Market Analysis

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

The ELWOOD, IL real estate market (60421) currently shows 18 active listings, with 8 pending sales. Homes are averaging 24 days on the market before going under contract.

Inventory has increased compared to last year, with 11 more homes available — giving buyers more choice.

Homes are selling faster, averaging 24 days on market compared to 113 days last year.

The median listing price has fallen 16.2% year-over-year, from $402,500 to $337,450.

Whether you are buying or selling in ELWOOD, IL, 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: 3,850  ·  Density: 24.9/mi²  ·  Median household income: $100,956

Typical home value: $226,950  ·  Homeownership: 89.8%

Market Overview

Active Listings
18
⇧ 157.1% vs 7 last year
Pending
8
44% pending ratio
Median Price
$337,450
⇩ 16.2% vs $402,500 last year
Average Price
$476,180
⇧ 27.8% vs $372,475 last year
Days on Market
24
⇩ 78.8% vs 113 days last year

Price Per Square Foot

Median $/sqft
$216
⇧ 42.1% vs $152/sqft last year
Median Home Size
1,900 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 18 this year vs 7 last year
  • Days on market: 24 now vs 113 last year

Median & Average Pricing

Year over Year
  • Median: $337,450 (-16.2% YoY)
  • Average: $476,180 (+27.8% 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 15.7 miles — 762 listings ($321,429,290 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
60421Elwood, IL 604210.0 mi13$5,901,116$342,500$453,932
60410Channahon, IL 604106.7 mi73$33,679,718$448,675$461,366
60442Manhattan, IL 604426.8 mi43$18,977,104$439,000$441,328
60432Joliet, IL 604329.5 mi18$4,493,394$264,950$249,633
60435Joliet, IL 604359.6 mi99$29,659,113$296,225$299,587
60431Joliet, IL 6043110.5 mi92$32,907,388$349,973$357,689
60408Braidwood, IL 6040811.8 mi15$4,024,335$292,450$268,289
60441Lockport, IL 6044112.9 mi78$31,931,406$358,725$409,377
60586Plainfield, IL 6058613.4 mi87$37,287,591$415,500$428,593
60423Frankfort, IL 6042313.8 mi77$54,908,931$659,450$713,103
60950Manteno, IL 6095015.2 mi29$10,007,900$359,000$345,100
60468Peotone, IL 6046815.3 mi12$3,864,288$315,575$322,024
60544Plainfield, IL 6054415.7 mi126$53,787,006$385,425$426,881

Frequently Asked Questions

How many homes are for sale in ELWOOD, IL 60421?

As of March 2026, there are 18 active listings in ELWOOD, IL (zip code 60421), compared to 7 the prior year.

What is the median home price in ELWOOD, IL 60421?

The median listing price in ELWOOD, IL 60421 is $337,450 as of March 2026, a 16.2% decrease from $402,500 the prior year.

How long do homes stay on the market in ELWOOD, IL?

Homes in ELWOOD, IL 60421 spend an average of 24 days on the market before going under contract, compared to 113 days the prior year.

Is it a seller's or buyer's market in ELWOOD, IL 60421?

Based on current inventory and days-on-market data as of March 2026, ELWOOD, IL 60421 is currently a Balanced Market. Inventory has increased compared to last year, with 11 more homes available — giving buyers more choice. Homes are selling faster, averaging 24 days on market compared to 113 days last year.

How much can I save on real estate commission in ELWOOD, IL?

With SELL123.com's maximum 3% commission, sellers in ELWOOD, IL 60421 save an estimated $6,749 compared to a typical 5% commission on the median listing price of $337,450. 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.