Elmhurst Real Estate Market Conditions – October 2017

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Elmhurst Real Estate Market

The Elmhurst Real Estate Market is still pretty strong in October despite the lack of inventory. Single family home sales increased and they are selling fairly quick. 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 decreased in October. Homes were on the market for an average of 75 days compared to 102 days last year at the same time, a 26.5% decrease. Condos and townhomes sold super fast in October. The average time a condo/townhome stayed on the market was 83 days compared to last year when it was 94 days, a 11.7% decrease.Elmhurst Real Estate Market Conditions

Elmhurst Months Supply

Single family home inventories in Elmhurst had 4.2 months of supply at the end of October, more than a 16% decrease compared to last year at this time when the months supply was 5. The supply of condos and townhomes did not change from last year when the months supply was 2.7.Elmhurst Real Estate Market Conditions

Elmhurst Homes For Sale

At the end of October there were 218 single family homes for sale in Elmhurst, a 9.9% decrease from last October when there were 242 homes for sale. The number of condos and townhomes for sale remained the same with 21 for sale at the end of October 2017 and October 2016.Elmhurst Real Estate Market Conditions

Elmhurst New Listings

New listings had a very slight decrease during October with single family homes having 83 new listings compared to the 86 listed in October 2016, a decrease of 3.5%. Condos and townhomes had a 233.3% increase with 10 listed for sale this October compared to 3 new listings at this time last year.Elmhurst Real Estate Market Conditions

Elmhurst Real Estate Closings

The number of single family home closings increased 7.9% with 41 closings this October, compared to 38 closings last October. Condo and townhome closings had a 11.1% decrease in closed sales with 8 closings compared to 9 last October.Elmhurst Real Estate Market Conditions

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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