Elmhurst Real Estate Market Conditions – July 2020

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market continues to see good market conditions despite the low inventory. Single family home sales increased more than 6% and inventory decreased more than 45% in July.

Elmhurst Market Times

Single family home market times increased slightly in July. Homes were on the market for an average of 94 days compared to 93 days last year at the same time, a 1.1% increase. The average time a condo/townhome stayed on the market was 90 days compared to last year when it was 220 days, an increase of 144.4%.

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 3.7 month supply at the end of July, a 45.6% decrease compared to last year at this time when the months supply was 6.8 months. The supply of condos and townhomes increased 12.8% in July with 5.2 months supply this year compared to last year when the months supply was 4.7.

Elmhurst Homes For Sale

At the end of July there were 193 single family homes for sale in Elmhurst, a decrease of 38.1% from last year when there were 312 homes for sale. The number of condos and townhomes for sale decreased 2.2% in July with 45 for sale this year compared to last year when there were 46 for sale.

Elmhurst New Listings

July single family home new listings increased with 124 new listings compared to 111 last year at the same time, an 11.7% increase. Condo and townhome new listings increased with 31 new listings compared to 17 last year at the same time, an 82.4% increase.

Elmhurst Real Estate Closings

The number of single family home sales increased with 77 closings this July compared to 72 last year, a 6.9% increase. Condo and townhome closings decreased 8.3% with 11 closings this July, compared to the same time last year when there were 12 closings.

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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