Elmhurst real estate news & market updates

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Elmhurst Real Estate Update By Tom Makinney Jr.

Elmhurst Market Statistics for July

July property sales were up 20% over the same time last year, from 63 in July 2013 to 76 homes sold this year. Prior 12 months sales are up 11.4% at 577 vs. 518 for last year.  Prior 12 months average sales price increased 5%, from $435,628 in 2013 to $457,270 in 2014.  The July Average Sales Price increased 14.4%, from $416,766 in July 2013 to $476,759 in July 2014. The July 2014 vs. July 2013 median price increased 19.3%, from $335,000 to $399,700. The July average Days on Market (DOM) decreased from 77 in July 2013 to 63 in July 2014.

 

The July 2014 MSI of 4.45 months was at its highest level compared with July of 2013. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.

 

The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%, the more of a Buyer's market exists; a ratio at or above 100% indicates more of a Seller's market. The July 2014 Selling Price vs. List Price of 95.0% increased from 93.4% in July of last year.

 

                   

Partner Up With A Winning Team!

Did you know The Gracik Makinney Real Estate Group is in the top 0.1% of all agents nationwide?

According to RealTrends 2014 study, we are proud to say we made the list and qualified as one of America’s Best Real Estate Teams.

Americas Best and Trulia.jpgWe’d also like to thank the local businesses who team up with us to promote their winning services alongside ours.

Special thanks to Jack Jones of Fairway Mortgage, Joerg Seifert Law Offices P.C., DeSimone Landscaping, and HB Jones.

Not looking to buy or sell at the moment? You can still partner up with a winning team, as we invite local Elmhurst businesses to join us on our monthly publication which reaches nearly 3,000 residents in the area!

Contact us today for more information on how our Elmhurst businesses can work together by calling us at 630-441-5570 or visiting our Contact Page onwww.MariaandTom.com today!

TIPS FOR HOME SELLERS

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:
  • Bring in the light. The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical suntubes.
  • Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
  • Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!
These simple tips can help you sell your home and take advantage of today's market. Please contact us if you have any questions about selling your home. We are here to help!