Market snapshot
Suburb insights for Elwood3184
Change suburbElwood is a relaxed bayside suburb located approximately 8 km south of the CBD, known for its coastal lifestyle, Art Deco architecture, and village charm. It offers residents leafy streets, beach access, bike trails, and a strong sense of community, with cafes and grocers clustered along Ormond Road. Elwood is especially popular among families, professionals, and downsizers who value proximity to the beach and a quieter pace near the city.
Recent sales and auction results in Elwood
| Address | Bedrooms | Price | Type | Method | Sale Date | Agent | Listing |
|---|---|---|---|---|---|---|---|
| 8/40 Ormond Rd, Elwood | 1 |  | Unit | Sold Before Auction | 16/03/2026 | Woodards | View |
| 4/5 Beach Av, Elwood | 2 |  | Apartment | Passed in Vendor Bid | 10/04/2026 | Marshall White | View |
| 4/145 Glen Huntly Rd, Elwood | 3 | | Apartment | Passed in Vendor Bid | 10/04/2026 | Jellis Craig | View |
| 4/25 John St, Elwood | 2 | | Unit | Passed in Vendor Bid | 10/04/2026 | Biggin & Scott | |
| 38 Southey St, Elwood | 4 | | House | Private Sale | 29/03/2026 | Belle Property St Kilda | View |
| 55 Southey St, Elwood | 6 | | House | Private Sale | 3/03/2026 | Kay & Burton |
Sales data
Median sale price
$2.1mil
Quarterly price change
6.2%
Metro Melbourne Comparison
$992k
1.9%
| Bedrooms | Elwood | Metro comparison |
|---|---|---|
| 2 | $1,475,000 | $950,000 |
| 3 | $1,907,500 | $863,000 |
| 4 | $2,830,000 | $980,500 |
| Insight | Elwood | Metro comparison |
|---|---|---|
| Clearance rate | 75.9% | 74.9% |
| Days on market | 32 | 37 |
Rental data
Median weekly rent
$990
Rental yield
2.5%
Metro Melbourne Comparison
$580
3.1%
| Bedrooms | Elwood | Metro comparison |
|---|---|---|
| 2 | $810 | $595 |
| 3 | $1,120 | $550 |
| 4 | - | $595 |
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