Elmhurst Real Estate Market Conditions – September 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in September while starting to build up some much needed inventory. With the limited inventory buyers still need to act quickly when a new listing comes on the market.

Elmhurst Market Times

Single family home market times increased in September. Homes were on the market for an average of 114 days compared to 112 days last year at the same time, a slight 1.8% increase. The average time a condo/townhome stayed on the market was 62 days compared to last year when it was 8 days, an increase of 675%.

Elmhurst Real Estate Market Conditions - September 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.6 month supply at the end of September, a 24.4% increase compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased tremendously, 190.5% in September with 6.1 months supply this year compared to last year when the months supply was only 2.1.

Elmhurst Real Estate Market Conditions - September 2018 months supply

Elmhurst Homes For Sale

At the end of September there were 278 single family homes for sale in Elmhurst, a 19.3% increase from last September when there were 233 homes for sale. The number of condos and townhomes for sale increased 182.4% in September with 48 for sale this year compared to last year when there were 17 for sale.

Elmhurst Real Estate Market Conditions - September 2018 homes for sale

Elmhurst New Listings

September single family homes new listings increased with 119 new listings compared to 102 last year at the same time, a 16.7% increase. Condo and townhome new listings increased 60% with 16 listed for sale this September compared to 10 the same time last year.

Elmhurst Real Estate Market Conditions - September 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 42 closings this September compared to 48 last year, a 12.5% decrease. Condo and townhome closings had a 14.3% increase in closed sales with 8 closings this year compared to 7 last September.

Elmhurst Real Estate Market Conditions - September 2018 closed sales

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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