2013 DuPage County Property Tax Rates
Last year we published an article on the property taxes in DuPage County, Illinois. In the table below which is listed in order from towns with the highest tax assessment rate to the lowest, see how your property tax rate compares to other communities in DuPage County. We’ve included tax years 2012 and 2013 and calculated the difference for your convenience. Interestingly, Villa Park is the only city in DuPage County to decrease their property tax rate, from 7.77% in 2012 to 7.69% in 2013, a resulting decrease of .08. Oak Brook continues to have the lowest property taxes in DuPage at only 3.84%, due in part to the many corporations and the Oak Brook mall.
||Elk Grove Village
||Oak Brook Terrace
For more information on how real estate property taxes are determined, visit DuPage County Tax Calculation where you can also learn how to calculate taxes as a percent of purchase price.
How Much Does an Elmhurst Condo Cost? Check out Crescent Court
Elmhurst Condos, Crescent Court
Located in the heart of downtown Elmhurst and built in 2005, Crescent Court is an Elmhurst condo complex with about 120 units. Located on York Street within walking distance to the train and the various shops and restaurants, it is one of the more desirable Elmhurst Condo choices. Units range in size from 945 square feet to just over 2,400.
You can expect to pay upwards of $250.00 per square foot or more if the unit is highly finished. In the last year 10 units have sold between both buildings. Compared to other Elmhurst Condos, the price per square foot is fairly high.
On August 4th, 145 S York Unit 510 sold for $380,000. Listed by Coldwell Banker as the Berteau model with 2 beds and 2 baths and located on the buildings top floor, it boasted:
“ALL NEW CARPET, NEW GRANITE COUNTERS IN KITCHEN WITH BRAND NEW STAINLESS STEEL LG HIGH EFFICIENCY APPLIANCES. NEW FAUCETS THROUGH OUT KITCHEN AND BATHS. BATHROOMS HAVE NEW LG HI MAC VANITY TOPS/SINKS. “
A similar Elmhurst Condo in Crescent Court unit #310 is currently being listed by @ Properties and is priced at $349,000. It boasts bamboo floors, a private balcony and 2 parking spots.
Check out more Elmhurst Condos for sale.
Extremely Low Home Inventory Levels in DuPage County Continue In April
The inventory of single family homes for sale in DuPage County has decreased more than 38% from April 2013 to April 2014, with condos and townhomes remaining fairly stable with only a 5% decrease. April 2014 had a 3 month supply of single family homes for sale in DuPage County, compared to a 4.8 month supply last year.
Condos and townhomes had a 4.6 month supply compared to a 4.9 month supply in April 2013. Cook County is seeing extremely low inventory levels as well. The inventory of single family homes for sale in Cook County decreased almost 21% since April 2013, while the condo and townhome inventory decreased almost 19%. Cook County had a 3.5 month supply of homes for sale in April 2014, while there was a 4.4 months supply of condos and townhomes. In April 2013, Cook County had 5.4 months supply of condos and townhomes and 4.5 months of single family homes for sale.
These inventory numbers vary city by city, so if you’d like specifics on your area, please let me know. Whether you are interested in selling or planning to buy a home, give us a call to get our perspective and further data.
High Home Demand With Low Inventory Levels In Lombard
Much like Elmhurst and Hinsdale, demand for well priced single family homes in Lombard is high but the inventory is super low. We recently sold an adorable 3 bedroom ranch home in Lombard with an overwhelming response. Within 2 days we had 16 showings and on the second day we had an accepted offer. The number of buyers that are in the market and waiting for more homes to come to market is larger than ever, but there is actually a shortage of properties to buy, indicating we are in a strong seller’s market.
The graph below shows the single family home and detached home inventory levels in Lombard over the last 5 years, courtesy of MRED. The inventory of single family homes for sale in Lombard has been decreasing year after year since a peak of almost a two years supply in 2011. In sharp contrast, January 2014 ended with only a 3 month supply of single family homes for sale. This is more than a 36% decrease since January 2013 when Lombard had just under a 5 month supply of single family homes available which is down from the year before when there was 7.5 months of inventory.
If you’ve been on the fence about selling your home and are in the Lombard area, now is the perfect time to get it on the market before the competition increases. The time a home stays on the market before it sells is about 3 months. Those priced above $300,000 tend to take an extra month to sell. Follow our link if you wish to see recently sold homes in Lombard,
An Insider’s Guide To The Home Sale Process
If you’ve visited our site before or read my blog on Chicago Now (Getting Real) you’ve probably picked up on the fact that I have a rather irreverent take on the real estate industry. In fact, the reason I decided to become a real estate broker is because the whole industry seemed broken (Nothing altruistic here. Broken industry = business opportunity). But not everyone reads my blog religiously and as I meet with prospective clients I realize that there are still a lot of misconceptions out there. No surprise there because the real estate industry has a vested interest in perpetuating those misconceptions.
So it occurred to me, maybe it’s time to educate the market – something faster than one client at a time. Therefore, on February 19th, I will be hosting my first Real Estate Seminar: “Secrets to smart home selling, demystifying the sale process.” Just in time for the beginning of the home selling season in Chicago.
This free event is open to everyone, but will focus on the sell side of the real estate market (not to worry, I intend to have a buyer’s seminar soon!). I will be drawing on my years of experience to give you all the tips and tricks I’ve learned along the way. But first things first, let me give you an overview of exactly what I’ll cover.
First, we’ll review the market to understand what’s happened since the great recession and review the current home seller trends. I’ll show you why now is the best time to sell in the last 5 years. In addition, I’ll provide insight into what determines the value of your home and the key misconceptions traditional brokers perpetuate. And speaking of traditional brokers, I will provide insider information on what you should expect, dare I say demand, from a realtor and how to be wary of the popular myths they propagate. We’ll then dive into topics such as:
- Understanding how realtors make money and how to make that work for you
- Understanding the home buyer and the buyer funnel
- What really makes a house sell?
- How to pick a realtor
I’ll have plenty of other information to share as well. So please join me by clicking here to save your seat. Feel free to bring a friend or two… I’m pretty sure they will benefit from this seminar. I’ll definitely give you plenty to talk about. See you soon!