Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $240,000

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November 2015 Elmhurst Real Estate Market Update!

Elmhurst Market Statistics for October

Prior 12 months property sales increased from 576 in 2014 to 604 in 2015. October 2014 property sales vs October 2015 property sales decreased from 51 to 42 homes sold. Prior 12 months average sales price increased 3.3%, from $478,605 in 2014 to $494,309 in 2015. The October Average Sales Price decreased 5.7%, from $475,739 in October 2014 to $448,751 in October 2015. The October 2014 vs. October 2015 median price decreased .6%, from $400,000 to $397,450. The October Average Days on Market (DOM) increased from 102 in October 2014 to 125 in October 2015.

The October 2015 MSI of 5.43 months was at its lowest level compared with October 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 October 2015 Selling Price vs. List Price of 93.5% decreased .7% from 94.2% in October of last year.

Change in Median Sales Price from Prior Year (6-Month Average)** Elmhurst All MLS ** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | All data from Midwest Real Estate Data LLC. Powered by 10K Research and Marketing. All MLS Elmhurst September Trailing 12 Mos



Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today, and please contact us for a list of preferred mortgage professionals in our area.




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 sun tubes.
  • 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 our today's market. Please contact us if you have any questions about selling your home. We are here to help!

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