Elmhurst Real Estate Market Conditions – June 2019

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market continues to see strong market conditions while starting to build some much needed inventory. Single family home inventory increased more than 32% to 6.9 months of supply in June.

Elmhurst Market Times

Single family home market times increased in June. Homes were on the market for an average of 113 days compared to 84 days last year at the same time, a 34.5% increase. The average time a condo/townhome stayed on the market was 45 days compared to last year when it was 118 days, a decrease of 61.9%.

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 6.9 month supply at the end of June, a 32.7% increase compared to last year at this time when the months supply was 5.2 months. The supply of condos and townhomes decreased 48% in June with 3.7. months supply this year compared to last year when the months supply was 7.2.

Elmhurst Homes For Sale

At the end of June there were 311 single family homes for sale in Elmhurst, an increase of almost 20% from last year when there were 261 homes for sale. The number of condos and townhomes for sale decreased more than 29% in June with 38 for sale this year compared to last year when there were 54 for sale.

Elmhurst New Listings

June single family home new listings decreased with 146 new listings compared to 147 last year at the same time, a 0.7% decrease. Condo and townhome new listings decreased more than 51% with 18 new listings this year compared to the same time last year when there were 37 new listings.

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 54 closings this June compared to 87 last year, a 37.9% decrease. Condo and townhome closings decreased with 13 closings this June compared to 19 last year, more than a 31% decrease.

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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