Elmhurst Real Estate Market Conditions – August 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in August while starting to build up some much needed 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 August. Homes were on the market for an average of 66 days compared to 101 days last year at the same time, more than a 34% decrease. The average time a condo/townhome stayed on the market was 32 days compared to last year when it was 17 days, an increase of 88.2%.Elmhurst Real Estate Market Conditions - August 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.5 month supply at the end of August, a 22.2% increase compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased tremendously, 276.5% in August with 6.4 months supply this year compared to last year when the months supply was 1.7.Elmhurst Real Estate Market Conditions - August 2018 months supply

Elmhurst Homes For Sale

At the end of August there were 274 single family homes for sale in Elmhurst, a 14.2% increase from last August when there were 240 homes for sale. The number of condos and townhomes for sale increased 242.9% in August with 48 for sale this year compared to last year when there were 14 for sale.Elmhurst Real Estate Market Conditions - August 2018 homes for sale

Elmhurst New Listings

August single family homes new listings remained the same with 109 new listings both this year and last year. Condo and townhome new listings decreased 6.7% with 14 listed for sale this August compared to 15 the same time last year.Elmhurst Real Estate Market Conditions - August 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 52 closings this August compared to 65 last year, a 20% decrease. Condo and townhome closings had a 21.4% decrease in closed sales with 11 closings this year compared to 14 last August.Elmhurst Real Estate Market Conditions - August 2018 closed sales

#ElmhurstRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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