Elmhurst Real Estate Market Conditions – August 2019

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market continues to see good market conditions while building some much needed inventory. Single family home inventory increased more than 12% to 6.5 months of supply in August.

Elmhurst Market Times

Single family home market times increased in August. Homes were on the market for an average of 121 days compared to 66 days last year at the same time, an 83.3% increase. The average time a condo/townhome stayed on the market was 52 days compared to last year when it was 32 days, an increase of 62.5%.

Elmhurst Real Estate Market Conditions - August 2019

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 6.4 month supply at the end of August, a 12.3% increase compared to last year at this time when the months supply was 5.7 months. The supply of condos and townhomes decreased 48.5% in August with 3.5 months supply this year compared to last year when the months supply was 6.8.

Elmhurst Real Estate Market Conditions - August 2019

Elmhurst Homes For Sale

At the end of August there were 296 single family homes for sale in Elmhurst, an increase of 5.3% from last year when there were 281 homes for sale. The number of condos and townhomes for sale decreased 26% in August with 37 for sale this year compared to last year when there were 50 for sale.

Elmhurst Real Estate Market Conditions - August 2019

Elmhurst New Listings

August single family home new listings increased with 120 new listings compared to 109 last year at the same time, a 10.1% increase. Condo and townhome new listings increased 21.4% with 17 new listings this year compared to 14 last year at the same time.

Elmhurst Real Estate Market Conditions - August 2019

Elmhurst Real Estate Closings

The number of single family home closed sales decreased with 51 closings this August compared to 53 last year, a small 3.8% decrease. Condo and townhome closings remained the same as last year with 11 closings this August, the same amount as last year.

Elmhurst Real Estate Market Conditions - August 2019

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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