Elmhurst Real Estate Market Conditions – November 2017

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Elmhurst Real Estate Market

The Elmhurst Real Estate Market is still pretty strong in November despite the lack of inventory. Single family home sales increased slightly 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 November. Homes were on the market for an average of 89 days compared to 90 days last year at the same time, a 1.1% decrease. Condos and townhomes sold super fast in November. The average time a condo/townhome stayed on the market was 49 days compared to last year when it was 106 days, a 53.8% decrease.Elmhurst real estate market time Nov 2017

Elmhurst Months Supply

Single family home inventories in Elmhurst had 3.6 months of supply at the end of November, more than a 21% decrease compared to last year at this time when the months supply was 4.6. The supply of condos and townhomes increased more than 18% in November with 2.6 months supply this year compared to last year when the months supply was 2.2.Elmhurst real estate months supply Nov 2017

Elmhurst Homes For Sale

At the end of November there were 186 single family homes for sale in Elmhurst, a 15.1% decrease from last November when there were 219 homes for sale. The number of condos and townhomes for sale increased almost 12% in November with 19 for sale this year compared to last year when there were 17 for sale.Elmhurst real estate homes for sale Nov 2017

Elmhurst New Listings

New listings had a decrease during November with single family homes having 43 new listings compared to the 62 listed in November 2016, a decrease of 30.6%. Condos and townhomes saw a 100% increase with 10 listed for sale this November compared to 5 new listings at this time last year.Elmhurst real estate new listings Nov 2017

Elmhurst Real Estate Closings

The number of single family home closings increased 2.4% with 43 closings this November, compared to 42 closings last November. Condo and townhome closings had a 37.5% decrease in closed sales with 5 closings this year compared to 8 last November.Elmhurst real estate closed sales Nov 2017

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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