Elmhurst Real Estate Market Update
The Elmhurst Real Estate Market had another solid month in December while starting to build up some much needed inventory. Single family home inventory increased more than 44% while condo and townhome inventory increased more than 130%.
Elmhurst Market Times
Single family home market times increased in December. Homes were on the market for an average of 163 days compared to 103 days last year at the same time, a 58.3% increase. The average time a condo/townhome stayed on the market was 62 days compared to last year when it was 16 days, an increase of 287.5%.
Elmhurst Months Supply
Single family home inventories in Elmhurst had a 4.2 month supply at the end of December, a 44.8% increase compared to last year at this time when the months supply was 2.9 months. The supply of condos and townhomes increased tremendously, 130.4% in December with 5.3 months supply this year compared to last year when the months supply was only 2.3.
Elmhurst Homes For Sale
At the end of December there were 200 single family homes for sale in Elmhurst, a 30.7% increase from last December when there were 153 homes for sale. The number of condos and townhomes for sale increased 150% in December with 45 for sale this year compared to last year when there were 18 for sale.
Elmhurst New Listings
December single family homes new listings increased with 43 new listings compared to 30 last year at the same time, a 43.3% increase. Condo and townhome new listings decreased 33.3% with 6 listed for sale this December compared to 9 the same time last year.
Elmhurst Real Estate Closings
The number of single family home closed sales decreased with 21 closings this December compared to 28 last year, a 25% decrease. Condo and townhome closings had a 40% increase in closed sales with 7 closings this year compared to 5 last December.