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 June 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

$532,000

$304/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$2,666(+0.5%)

Key Takeaway

Homes in Elmhurst have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in Elmhurst was $532,000 in June 2024, up 0.5% from last year, and the median price per square foot was $304.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $139.9K$173.5K
+24.0%
2 $290K$314.5K
+8.4%
3 $415K$460K
+10.8%
4 $865.4K$942.5K
+8.9%
5+ $970K$1.1M
+19.6%

Summary: Elmhurst housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 19.6%.

Median Sold Price Compared To Nearby Cities

Northlake
+14.0%
Villa Park
+8.5%
York Township
+4.8%
Elmhurst
0.5%
Berkeley
-3.0%

Housing Supply in Elmhurst, IL

How many homes are available in Elmhurst, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
159184+15.7%

Summary: The Elmhurst real estate market had 184 homes for sale in June 2024, a 15.7% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 22
0.0%
2 1524
+60.0%
3 5261
+17.3%
4 6772
+7.5%
5+ 2325
+8.7%

Summary: The Elmhurst housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 8.7%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4152+26.8%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

21 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. 40.4% of homes here sold below asking price last month.

Summary: A total of 52 homes were sold or pending in Elmhurst in June 2024, up by 26.8% month-over-month. Of the 52 sold homes, 40% were sold under asking, 19% were sold at asking, and 40% 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

Jun 2023Jun 2024CHANGE
20 Days37 Days+80.7%

Summary: Homes in Elmhurst had an average of 37 days on market in Jun 2024, up by 80.7% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

7 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 June 2024, 52 homes were sold in Elmhurst; 79% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 13% 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 26 Days Ago

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