Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $1,290,000

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January 2016 Elmhurst Real Estate Market Update!

Elmhurst Market Statistics for December

Prior 12 months property sales increased from 581 in 2014 to 604 in 2015.  December 2014 property sales vs December 2015 property sales decreased from 51 to 44 homes sold. Prior 12 monthsaverage sales price increased 4.5%, from $477,396 in 2014 to $498,671 in 2015.  The December Average Sales Price increased 1.2%, from $454,544 in December 2014 to $460,055 in December 2015. The December 2014 vs. December 2015 median price decreased 6.9%, from $382.000 to $355,625. The December Average Days on Market (DOM) increased from 98 in December 2014 to 120 in December 2015.

 

The December 2015 MSI of 5.25 months was at its lowest level compared with December of 2014. 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 December 2015 Selling Price vs. List Price of 92.8% increased .4% from 92.4% in December of last year.


 

Elmhurst One of 10 Happiest Cities in Illinois

If you’ve noticed big smiles on Elmhurst residents’ faces, you’re in the right place. Elmhurst was just named one of the 10 Happiest Cities in Illinois by CreditDonkey.com and we’re not surprised.

Citing the high median income and incredibly low crime, the report shows Elmhurst beating out Wheaton, Batavia, and Bloomington and coming in at an impressive #4 on the happy list.

Residents proudly point to the excellent schools, vibrant downtown, family-friendly neighborhoods, and commuter-friendly factors like the Metra line and easy access to major highways as the major reasons they love to call Elmhurst home.

If you’ve always wanted to live in a happy city, or want to upgrade to a bigger place in our cheerful town, please contact us. We’re experts on all aspects of Elmhurst life!

 

Winter Staging Tips

When selling your home in the winter, the art of staging the inside becomes more important. Here are five simple tips to make your home shine even when the outside landscaping has faded:

  • Keep your house warm. In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
  • Clear your walkways and driveways of any snow or ice. Make it easy for buyers to get to your home.
  • Clean the windows and blinds. Letting in the natural light can brighten up a room and cheer up the home. This also brings attention to the windows and blinds so make sure they are clean even during winter. Dirty windows will make the home appear neglected.
  • Background music played softly can completely change the atmosphere, which will make the home feel cozy and keep potential buyers around longer. Select classical music to appeal to anyone.
  • Leave the light on. Before showing a home, make sure it's well lit. A well lit home is more inviting. If you're not home, consider setting up timers.

Following these simple tips can give your house that added boost in today's competitive market. For information on selling in our local market, please contact us for a free market analysis of our recent neighborhood activity. We are more than happy to answer any questions you might have!

 
   
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