Is Elmhurst, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elmhurst has remained a Seller's Market.
Housing Prices in Elmhurst, IL
How much do homes in Elmhurst, IL cost?
Median Sold Price
$529,975
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Elmhurst was $529,975 in May 2024, up 1% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139.9K | $167K | +19.3% |
2 Bedrooms | $285.1K | $315K | +10.5% |
3 Bedrooms | $419K | $460K | +9.8% |
4 Bedrooms | $856.5K | $940K | +9.7% |
5+ Bedrooms | $1.0M | $1.0M | 0.5% |
Summary: Elmhurst housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Northlake | $250K | $289.9K | +16.0% |
Villa Park | $299.4K | $316K | +5.5% |
York Township | $363.9K | $377.1K | +3.6% |
Elmhurst | $524.5K | $529.9K | +1.0% |
Berkeley | $283K | $270K | -4.6% |
Housing Supply in Elmhurst, IL
How many homes are available in Elmhurst, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
147 | 170 | +15.6% |
Summary: The Elmhurst real estate market had 170 homes for sale in May 2024, a 15.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 12 | 17 | +41.7% |
3 Bedrooms | 47 | 57 | +21.3% |
4 Bedrooms | 67 | 69 | +3.0% |
5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The Elmhurst housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 39 | -11.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 39 homes were sold or pending in Elmhurst in May 2024, down by 11.4% month-over-month. Of the 39 sold homes, 41% were sold under asking, 10% were sold at asking, and 49% were sold over asking.
Days on Market for Elmhurst, IL
How long does it take to sell a home in Elmhurst, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 16 Days | -48.9% |
Summary: Homes in Elmhurst had an average of 16 days on market in May 2024, down by 48.9% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 39 homes were sold in Elmhurst; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.