Elmhurst Real Estate Market Update
The Elmhurst Real Estate Market is still pretty strong in December despite the lack of inventory. Single family home sales decreased and market times had a slight increase. Regardless of the increase homes are still 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 increased in December. Homes were on the market for an average of 103 days compared to 93 days last year at the same time, a 10.8% increase. Condos and townhomes sold super, super fast in December. The average time a condo/townhome stayed on the market was 16 days compared to last year when it was 84 days, a 81% decrease.
Elmhurst Months Supply
Single family home inventories in Elmhurst had 2.9 months of supply at the end of December, more than a 19% decrease compared to last year at this time when the months supply was 3.6. The supply of condos and townhomes increased more than 35% in December with 2.3 months supply this year compared to last year when the months supply was 1.7.
Elmhurst Homes For Sale
At the end of December there were 149 single family homes for sale in Elmhurst, a 15.8% decrease from last December when there were 177 homes for sale. The number of condos and townhomes for sale increased almost 39% in December with 18 for sale this year compared to last year when there were 13 for sale.
Elmhurst New Listings
New listings saw a decrease during December with single family homes having 30 new listings compared to the 40 listed in December 2016, a decrease of 25%. Condos and townhomes saw an enormous 350% increase with 9 listed for sale this December compared to 2 new listings at this time last year.
Elmhurst Real Estate Closings
The number of single family home closings decreased 26.3% with 28 closings this December, compared to 38 closings last December. Condo and townhome closings had a 28.6% decrease in closed sales with 5 closings this year compared to 7 last December.