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Health & Fitness

Some Elmhurst Housing Stats

You always see national real estate statistics but real estate is a very local thing. See some of the statistics for Elmhurst.

Every time you pick up the paper or listen to the business news you hear all kinds of statistics about the housing market. That’s all fine and good but real estate is very local. One area can be way down and another very stable. That’s the nature of real estate. So in this blog we will take a look at some Elmhurst specific statistics.

All of the statistics I will be citing here are from the Multiple Listing Service and cover the period from May 1, 2010 through May 23, 2011.

Let’s look at the market statistics:

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Active Listings (Those being currently marketed)

  • During this period there were 442 active listings for detached single family homes. The average List Price was $495,173 and the average time these homes have been on the market is 211 days.
  • For the same time period there were 85 active listings for attached homes (i.e. Condos, townhomes). The average List Price was $200,491 and the average time these homes have been on the market is 304 days.

Homes That Have Gone Off The Market

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  • There were 354 total detached single family homes that sold. This represents 35% of all listed single family homes. There were 65% that never sold and the listings expired. Of the homes that sold the average sales price was $400,345 which represents 94% of the final listing price. Those homes that sold stayed on the market for an average of 150 days.
  • There were 51 total attached homes that sold which is 23% of all attached homes listed. There were 76% of attached homes that never sold and the listings expired. The average sales price was $230,067 which represents 93% of the final listing price. These units were on the market an average of 214 days.

Where’s the Sweet Spot

The largest group of sold properties, properties currently under contract and properties being actively marketed fall in the price range of $150,000 to $399,000. Properties higher and lower are being marketed and selling but this range represents the highest number of properties.

So that’s a picture of what’s going on here in Elmhurst. Next time we’ll talk about some future outlooks for housing.

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