Elmhurst Real Estate Market Conditions – November 2018

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market had another solid month in November while starting to build up some much needed inventory. Single family home sales increased more than 16% while condos and townhome sales increased 180%.

Elmhurst Market Times

Single family home market times increased in November. Homes were on the market for an average of 93 days compared to 89 days last year at the same time, a 4.5% increase. The average time a condo/townhome stayed on the market was 39 days compared to last year when it was 49 days, a decrease of 20.4%.

Elmhurst Real Estate Market Conditions - November 2018 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 4.6 month supply at the end of November, a 27.8% increase compared to last year at this time when the months supply was 3.6 months. The supply of condos and townhomes increased tremendously, 126.9% in November with 5.9 months supply this year compared to last year when the months supply was only 2.6.

Elmhurst Real Estate Market Conditions - November 2018 months supply

Elmhurst Homes For Sale

At the end of November there were 226 single family homes for sale in Elmhurst, a 18.9% increase from last November when there were 190 homes for sale. The number of condos and townhomes for sale increased 163.2% in November with 50 for sale this year compared to last year when there were 19 for sale.

Elmhurst Real Estate Market Conditions - November 2018 homes for sale

Elmhurst New Listings

November single family homes new listings increased with 55 new listings compared to 43 last year at the same time, a 27.9% increase. Condo and townhome new listings decreased 10% with 9 listed for sale this November compared to 10 the same time last year.

Elmhurst Real Estate Market Conditions - November 2018 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales increased with 50 closings this November compared to 43 last year, a 16.3% increase. Condo and townhome closings had a 180% increase in closed sales with 14 closings this year compared to 5 last November.

Elmhurst Real Estate Market Conditions - November 2018 closed sales

#ElmhurstRealEstate

 

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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