Elmhurst Real Estate Market Update
The Elmhurst Real Estate Market is still pretty strong in May despite the lack of inventory. Homes are selling fairly quick. With the limited inventory buyers need to act quickly when a new listing comes on the market.
Elmhurst Market Times
Single family home market times decreased in May. Homes were on the market for an average of 89 days compared to 92 days last year at the same time, a slight 3.3% decrease. The average time a condo/townhome stayed on the market was 86 days compared to last year when it was 66 days, more than an 30% increase.
Elmhurst Months Supply
Single family home inventories in Elmhurst had 4.6 months of supply at the end of May, a 4.2% decrease compared to last year at this time when the months supply was 4.8 months. The supply of condos and townhomes increased 50% in May with 3.3 months supply this year compared to last year when the months supply was 2.2.
Elmhurst Homes For Sale
At the end of May there were 236 single family homes for sale in Elmhurst, a 3.7% decrease from last May when there were 245 homes for sale. The number of condos and townhomes for sale increased 62.5% in May with 26 for sale this year compared to last year when there were 16 for sale.
Elmhurst New Listings
New listings saw an increase during May with 153 single family homes newly listed compared to the 146 listed in May 2017, an increase of 4.8%. Condo and townhome new listings increased more than 18% with 19 listed for sale this May compared to 16 the same time last year.
Elmhurst Real Estate Closings
The number of single family home closed sales decreased more than 18% with 68 closings this May compared to 83 last year. Condo and townhome closings had a 8.3% decrease in closed sales with 11 closings this year compared to 12 last May.