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 9% and inventory decreased more than 31% in July.
Elmhurst Market Times
Single family home market times decreased in July. Homes were on the market for an average of 51 days compared to 95 days last year at the same time, a 46.3% decrease. The average time a condo/townhome stayed on the market was 80 days compared to last year when it was 220 days, a decrease of 63.6%.
Elmhurst Months Supply
Single family home inventories in Elmhurst had a 2.6 month supply at the end of July, a 31.6% decrease compared to last year at this time when the months supply was 3.8 months. The supply of condos and townhomes decreased 51.7% in July with 2.8 months supply this year compared to last year when the months supply was 5.8 months.
Elmhurst Homes For Sale
At the end of July there were 164 single family homes for sale in Elmhurst, a decrease of 17.2% from last year when there were 198 homes for sale. The number of condos and townhomes for sale decreased 31.3% in July with 33 for sale this year compared to last year when there were 48 for sale.
Elmhurst New Listings
July single family home new listings increased with 135 new listings compared to 125 last year at the same time, an 8% increase. Condo and townhome new listings decreased with 27 new listings compared to 31 last year at the same time, a 12.9% decrease.
Elmhurst Real Estate Closings
The number of single family home sales increased with 89 closings this July compared to 81 last year, a 9.9% increase. Condo and townhome closings didn’t have a decrease or an increase with 11 closings this July and last year.