Elmhurst Real Estate Market Conditions – July 2019

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market continues to see strong market conditions while building some much needed inventory. Single family home inventory increased 14% to 6.5 months of supply in July. Home sales increased 7.5%

Elmhurst Market Times

Single family home market times increased in July. Homes were on the market for an average of 93 days compared to 74 days last year at the same time, a 25.7% increase. The average time a condo/townhome stayed on the market was 90 days compared to last year when it was 66 days, an increase of 36.4%.

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 6.5 month supply at the end of July, a 14% increase compared to last year at this time when the months supply was 5.7 months. The supply of condos and townhomes decreased 38.5% in July with 4 months supply this year compared to last year when the months supply was 6.5.

Elmhurst Homes For Sale

At the end of July there were 304 single family homes for sale in Elmhurst, an increase of 10% from last year when there were 276 homes for sale. The number of condos and townhomes for sale decreased 18% in July with 41 for sale this year compared to last year when there were 50 for sale.

Elmhurst New Listings

July single family home new listings decreased with 110 new listings compared to 131 last year at the same time, a 16% decrease. Condo and townhome new listings had 17 new listings this year the same amount as last year at the same time.

Elmhurst Real Estate Closings

The number of single family home closed sales increased with 72 closings this July compared to 67 last year, a 7.5% increase. Condo and townhome closings increased with 12 closings this July compared to 11 last year, more than a 9% increase.

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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