Elmhurst Real Estate Market Conditions – May 2017

Elmhurst Real Estate Market

The Elmhurst Real Estate Market continues to perform well in May with strong sales despite the extremely low inventory levels.

Elmhurst Market Times

Single family home market times in Elmhurst had a mere increased in May. Homes were on the market for 93 days compared to 92 days last year at the same time, less than a 2% increase. The time a condo/townhome stayed on the market decreased more than 17% with 66 days this May, compared to last year when it was 80 days.

Elmhurst Real Estate MarketElmhurst Months Supply

Single family homes inventories in Elmhurst had 4.7 months of supply at the end of May, then exact same from last year at this time. The supply of condos and townhomes decreased from 4.1 months last year to 2.2 months supply this year. These are extremely low inventory levels.Elmhurst Real Estate MarketElmhurst Homes For Sale

At the end of May there were 239 single family homes for sale in Elmhurst, a 3.5% increase from last May when there were 231 homes for sale. The number of condos and townhomes for sale decreased almost 53% with 16 for sale at the end of May 2017 compared to 34 in May 2016.

Elmhurst Real Estate Market

Elmhurst New Listings

New listings in Elmhurst increased in May. Single family homes had 142 new listings compared to 115 listed in May 2016, an increase of 27%. New listings for condos and townhomes had more than a 6% increase with 16 listed for sale this May compared to 15 new listings at the same time last year.Elmhurst Real Estate MarketElmhurst Real Estate Closings

The number of single family home closings increased more than 17% with 80 closings this May, compared to 68 closings last May. Condo and townhome closings remained exactly the same as last May with 12 closings.Elmhurst Real Estate Market

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