Elmhurst Real Estate Market Conditions – September 2017 – Inventory Continues To Decline

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Elmhurst Real Estate Market

The Elmhurst Real Estate Market is still pretty strong in September despite the lack of inventory. Condo and townhome sales increased and they are selling super, super fast. With the limited inventory buyers need to act quickly when a new listing comes on the market.

Elmhurst Market Times

Single family home market times increased in September. Homes were on the market for an average of 100 days compared to 88 days last year at the same time, a 13.6% increase. Condos and townhomes sold super fast in September. The average time a condo/townhome stayed on the market was 8 days compared to last year when it was 61 days, a stunning 86.9% decrease.Elmhurst Real Estate Market Conditions - September 2017 market times

Elmhurst Months Supply

Single family homes inventories in Elmhurst had 4.4 months of supply at the end of September, more than a 15% decrease compared to last year at this time when the months supply was 5.2. The supply of condos and townhomes decreased more than 46% from 3.9 months last year to a historic low 2.1 months supply this year.Elmhurst Real Estate Market Conditions - September 2017 months supply

Elmhurst Homes For Sale

At the end of September there were 229 single family homes for sale in Elmhurst, a 9.1% decrease from last September when there were 252 homes for sale. The number of condos and townhomes for sale decreased more than 43% with 17 for sale at the end of September 2017 compared to 30 in September 2016.Elmhurst Real Estate Market Conditions - September 2017 homes for sale

Elmhurst New Listings

New listings had a very slight increase during September with single family homes having 102 new listings compared to the 101 listed in September 2016, an increase of 1.%. Condos and townhomes had a 33.3% decrease with 10 listed for sale this September compared to 15 new listings at this time last year.Elmhurst Real Estate Market Conditions - September 2017 new listings

Elmhurst Real Estate Closings

The number of single family home closings decreased 11.5% with 46 closings this September, compared to 52 closings last September. Condo and townhome closings had a 40% increase in closed sales with 7 closings compared to 5 last September.Elmhurst Real Estate Market Conditions - September 2017 closed sales

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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