Elmhurst Real Estate Market Update
The Elmhurst Real Estate Market had another solid month in May. Condo and townhome sales increased more than 45% from the previous year. Single family homes inventory increased more than 4%. Market times decreased significantly.
Elmhurst Market Times
Single family home and condo/townhome market times decreased in May. Homes were on the market for an average of 77 days compared to 89 days last year at the same time, a 13.5% decrease. The average time a condo/townhome stayed on the market was 48 days compared to last year when it was 86 days, a decrease of 44.2%.
Elmhurst Months Supply
Single family home inventories in Elmhurst had a 6.6 month supply at the end of May, a 37.5% increase compared to last year at this time when the months supply was 4.8 months. The supply of condos and townhomes increased 34% in May with 4.7. months supply this year compared to last year when the months supply was 3.5.
Elmhurst Homes For Sale
At the end of May there were 302 single family homes for sale in Elmhurst, an increase of almost 24% from last year when there were 244 homes for sale. The number of condos and townhomes for sale increased more than 66% in May with 45 for sale this year compared to last year when there were 27 for sale.
Elmhurst New Listings
May single family home new listings increased with 175 new listings compared to 154 last year at the same time, a 13.6% increase. Condo and townhome new listings increased more than 78% with 34 new listings this year compared to the same time last year when there were 19 new listings.
Elmhurst Real Estate Closings
The number of single family home closed sales increased with 71 closings this May compared to 68 last year, a 4.4% increase. Condo and townhome closings increased with 16 closings this May compared to 11 last year, more than a 45% increase.