Elmhurst Real Estate Market Conditions – October 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 sales increased more than 48% and inventory increased more than 7% in October.

Elmhurst Market Times

Single family home market times increased in October. Homes were on the market for an average of 108 days compared to 101 days last year at the same time, a 6.9% increase. The average time a condo/townhome stayed on the market was 119 days compared to last year when it was 21 days, an increase of 466.7%.

Elmhurst Real Estate Market Conditions - October 2019 market times

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 5.8 month supply at the end of October, a 7.4% increase compared to last year at this time when the months supply was 5.4 months. The supply of condos and townhomes decreased 40.9% in October with 3.9 months supply this year compared to last year when the months supply was 6.6.

Elmhurst Real Estate Market Conditions - October 2019 months supply

Elmhurst Homes For Sale

At the end of October there were 271 single family homes for sale in Elmhurst, an increase of 0.7% from last year when there were 269 homes for sale. The number of condos and townhomes for sale decreased 27.3% in October with 40 for sale this year compared to last year when there were 55 for sale.

Elmhurst Real Estate Market Conditions - October 2019 homes for sale

Elmhurst New Listings

October single family home new listings increased with 109 new listings compared to 99 last year at the same time, a 10.1% increase. Condo and townhome new listings increased 9.5% with 23 new listings this year compared to 21 last year at the same time.

Elmhurst Real Estate Market Conditions - October 2019 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales increased with 49 closings this October compared to 33 last year, a 48.5% increase. Condo and townhome closings increased 75% with 7 closings this October, compared to the same time last year when there were 4 closings.

Elmhurst Real Estate Market Conditions - October 2019 closed sales

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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