Elmhurst Real Estate Market Conditions – July 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in July despite the lack of inventory. 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 July. Homes were on the market for an average of 74 days compared to 93 days last year at the same time, more than a 20% decrease. The average time a condo/townhome stayed on the market was 66 days compared to last year when it was 17 days, a whopping 288.2% increase.

Elmhurst Real Estate Market Conditions - July 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.5 month supply at the end of July, a 25% increase compared to last year at this time when the months supply was 4.4 months. The supply of condos and townhomes increased tremendously, 215% in July with 6.3 months supply this year compared to last year when the months supply was 2.

Elmhurst Real Estate Market Conditions - July 2018 months supply

Elmhurst Homes For Sale

At the end of July there were 271 single family homes for sale in Elmhurst, a 15.8% increase from last July when there were 234 homes for sale. The number of condos and townhomes for sale increased 226.7% in July with 49 for sale this year compared to last year when there were 15 for sale.

Elmhurst Real Estate Market Conditions - July 2018 homes for sale

Elmhurst New Listings

New listings saw an increase during July with 129 single family homes newly listed compared to the 101 listed in July 2017, an increase of 27.7%. Condo and townhome new listings increased 70% with 17 listed for sale this July compared to 10 the same time last year.

Elmhurst Real Estate Market Conditions - July 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales increased with 67 closings this July compared to 60 last year, a 11.7% increase. Condo and townhome closings had a 57.1% increase in closed sales with 11 closings this year compared to 7 last July.

Elmhurst Real Estate Market Conditions - July 2018 closed sales

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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