Elmhurst Real Estate Market Conditions – March 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 4.3 months of supply at the end of March. Home sales decreased more than 18% compared to last year.

Elmhurst Market Times

Single family home market times increased in March. Homes were on the market for an average of 154 days compared to 137 days last year at the same time, a 12.4% increase. The average time a condo/townhome stayed on the market was 106 days compared to last year when it was 142 days, a decrease of 25.4%.

Elmhurst Real Estate Market Conditions - January 2020 market time

Elmhurst Months Supply

Single family home inventories in Elmhurst had a 4.3 month supply at the end of March, more than a 18% decrease compared to the 5.3 months last year at the same time. The supply of condos and townhomes decreased 35.6% in March with 3.8 months supply this year compared to 5.9 months last year at the same time.

Elmhurst Real Estate Market Conditions - January 2020 months supply

Elmhurst Homes For Sale

At the end of March there were 211 single family homes for sale in Elmhurst, a decrease of 17.3% from last year when there were 255 homes for sale. The number of condos and townhomes for sale decreased 29.6% in March with 38 for sale this year compared to last year when there were 54 for sale.

Elmhurst Real Estate Market Conditions - January 2020 homes for sale

Elmhurst New Listings

March single family home new listings decreased with 100 new listings compared to 151 last year at the same time, a 33.8% decrease. Condo and townhome new listings decreased 31.3% with 11 new listings this year compared to 16 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 decreased with 40 closings this March compared to 49 last year, more than a 18% decrease. Condo and townhome closings decreased with 6 closings this March compared to 9 last year at the same time, a 33.3% 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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