Elmhurst real estate news & market updates

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For Sale: $950,000

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Elmhurst Real Estate Update By Tom Makinney Jr.

Elmhurst Market Statistics for June

June property sales were up 6% over the same time last year, from 67 in June 2013 to 71 homes sold this year. Prior 12 months sales are up 11.7% at 564 vs. 505 for last year.  Prior 12 months average sales price increased 3.8%, from $433,650 in 2013 to $450,120 in 2014.  The June Average Sales Price was stable at $486,331. The June 2014 vs. June 2013 median price decreased 2.6%, from $390,000 to $380,000. The June average Days on Market (DOM) decreased from 90 in June 2013 to 85 in June 2014.


The June 2014 MSI of 5.67 months was at its highest level compared with June 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 June 2014 Selling Price vs. List Price of 95.7% decreased slightly from 96.4% in June of last year.




Elmhurst is no stranger to accolades, and this year Family Circle Magazine honors us with yet another as we land a spot in the Top 10 

york13.jpgBest Places for Families.

Family-friendly criteria such as school quality, financial stability, housing affordability, health care access, and crime rate were considered among 1,400 towns and villages which have a median income of $50,000 - $100,000 and a population of 10,000 – 150,000.


In the outcome of 10 winners, Elmhurst took a spot with some of the following notable highlights:
Households with Children 39%
Pedestrian Friendly
$1 Summer Movies at York Theatre
Elmhurst Public Library featuring a Teens Only Lounge and a Coffee Bar
York Theatre 2.jpgHigh School Standards
Charity Groups
Median Income of $88,236 and Median Home Price of $330,000

If you’re looking to buy or relocate in or near the great community of Elmhurst, The Gracik Makinney Real Estate Group is here to help!  Call us at 630-441-5570 or visit us on the web at MariaandTom.com!


Many people ask about bi-weekly payment plans designed to reduce the interest paid out over the course of your loan. These programs help the borrower budget an extra payment a year, and over time this can knock years off the repayment schedule. Many people are surprised to learn that they can do this themselves without any special programs, simply by submitting an extra principle payment as they are able. By submitting an extra payment, you get the advantages of an early payout, without the extra contractual obligation. Want more information on other mortgage options? Contact us today for our list of preferred local mortgage experts.