Elmhurst Real Estate Market Update
The Elmhurst Real Estate Market had another solid month in February while starting to build up some much needed inventory. Single family home inventory increased more than 35% while condo and townhome inventory increased by more than 87%.
Elmhurst Market Times
Single family home market times increased in February. Homes were on the market for an average of 138 days compared to 127 days last year at the same time, a 8.7% increase. The average time a condo/townhome stayed on the market was 45 days compared to last year when it was 53 days, a decrease of 15.1%.
Elmhurst Months Supply
Single family home inventories in Elmhurst had a 4.6 month supply at the end of February, a 35.3% increase compared to last year at this time when the months supply was 3.4 months. The supply of condos and townhomes increased tremendously, 87.1% in February with 5.8 months supply this year compared to last year when the months supply was only 3.1.
Elmhurst Homes For Sale
At the end of February there were 220 single family homes for sale in Elmhurst, an increase of 27.9% from last February when there were 172 homes for sale. The number of condos and townhomes for sale increased more than 131% in February with 51 for sale this year compared to last year when there were 22 for sale.
Elmhurst New Listings
February single family homes new listings decreased with 91 new listings compared to 94 last year at the same time, a slight 3.2% decrease. Condo and townhome new listings increased more than 88% with 17 new listings this year compared to the same last year when there were 9 new listings.
Elmhurst Real Estate Closings
The number of single family home closed sales decreased with 24 closings this February compared to 35 last year, a 31.4% decrease. Condo and townhome closings remained the same as last year with 5 closings.