Elmhurst Real Estate Market Conditions – February 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in February despite the lack of inventory. Homes 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 February. Homes were on the market for an average of 130 days compared to 145 days last year at the same time, a 10.3% decrease. The average time a condo/townhome stayed on the market was 53 days compared to last year when it was 7 days, more than an 657% increase.

Elmhurst Real Estate Market Conditions - February 2018 market time

Elmhurst Months Supply

Single family home inventories in Elmhurst had 3.3 months of supply at the end of February, more than a 17% decrease compared to last year at this time when the months supply was 4 months. The supply of condos and townhomes increased 121.4% in February with 3.1 months supply this year compared to last year when the months supply was 1.4.

Elmhurst Real Estate Market Conditions - February 2018 months supply

Elmhurst Homes For Sale

At the end of February there were 171 single family homes for sale in Elmhurst, a 12.8% decrease from last February when there were 196 homes for sale. The number of condos and townhomes for sale increased 100% in February with 22 for sale this year compared to last year when there were 11 for sale.

Elmhurst Real Estate Market Conditions - February 2018 homes for sale

Elmhurst New Listings

New listings saw a decrease during February with 94 single family homes newly listed compared to the 107 listed in February 2017, a decrease of 12.1%. Condos and townhomes remained exactly the same with 9 listed for sale this February the same as this time last year.

Elmhurst Real Estate Market Conditions - February 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closings remained exactly the same as last year with 34 closings this February and last year. Condo and townhome closings had a 150% increase in closed sales with 5 closings this year compared to 2 last February.

Elmhurst Real Estate Market Conditions - February 2018 closed sales

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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