Elmhurst Real Estate Market Conditions – January 2020

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Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home inventory had 3.9 months of supply at the end of January. Home sales increased more than 68% compared to last year.

Elmhurst Market Times

Single family home market times increased in January. Homes were on the market for an average of 173 days compared to 145 days last year at the same time, a 19.3% increase. The average time a condo/townhome stayed on the market was 42 days compared to last year when it was 103 days, a decrease of 59.2%.

Elmhurst Real Estate Market Conditions - January 2020 market time

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 3.9 month supply at the end of January, more than a 15% decrease compared to the 4.6% last year at the same time. The supply of condos and townhomes decreased 26% in January with 3.7 months supply this year compared to 5 months last year at the same time.

Elmhurst Real Estate Market Conditions - January 2020 months supply

Elmhurst Homes For Sale

At the end of January there were 190 single family homes for sale in Elmhurst, a decrease of 12.4% from last year when there were 217 homes for sale. The number of condos and townhomes for sale decreased 11.6% in January with 38 for sale this year compared to last year when there were 43 for sale.

Elmhurst Real Estate Market Conditions - January 2020 homes for sale

Elmhurst New Listings

January single family home new listings increased with 95 new listings compared to 90 last year at the same time, a 5.6% increase. Condo and townhome new listings increased 155.6% with 23 new listings this year compared to 9 last year at the same time.

Elmhurst Real Estate Market Conditions - January 2020 new listings

Elmhurst Real Estate Closings

The number of single family home closed sales increased with 37 closings this January compared to 22 last year, more than a 68% increase. Condo and townhome closings decreased with 5 closings this January compared to 6 last year at the same time, a 16.7% decrease.

Elmhurst Real Estate Market Conditions - January 2020 closed sales

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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