Is Elmhurst, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elmhurst is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Elmhurst has remained a Seller's Market.

Key Takeaway

Elmhurst is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Elmhurst, IL

How much do homes in Elmhurst, IL cost?

Median Sold Price

$508,000

$291/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$32,989(-6.1%)

Key Takeaway

Homes in Elmhurst have sold for 6.1% less than they did a year ago.

Summary: The median home sold price in Elmhurst was $508,000 in February 2024, down 6.1% from last year, and the median price per square foot was $291.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $143.5K$147.5K
+2.8%
2 $289.9K$293K
+1.1%
3 $440K$440K
0.0%
4 $857.1K$857.5K
0.0%
5+ $1.0M$989.9K
-6.2%

Summary: Elmhurst housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 1.1%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 6.2%.

Median Sold Price Compared To Nearby Cities

York Township
+3.1%
Villa Park
+1.5%
Berkeley
-0.7%
Elmhurst
-6.1%

Housing Supply in Elmhurst, IL

How many homes are available in Elmhurst, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
102122+19.6%

Summary: The Elmhurst real estate market had 122 homes for sale in February 2024, a 19.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 23
+50.0%
2 85
-37.5%
3 3844
+15.8%
4 4657
+23.9%
5+ 813
+62.5%

Summary: The Elmhurst housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 62.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2824-14.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elmhurst, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Elmhurst in February 2024, down by 14.3% month-over-month. Of the 24 sold homes, 54% were sold under asking, 13% were sold at asking, and 33% 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

Feb 2023Feb 2024CHANGE
42 Days29 Days-29.4%

Summary: Homes in Elmhurst had an average of 29 days on market in Feb 2024, down by 29.4% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elmhurst are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 24 homes were sold in Elmhurst; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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