Elmhurst Real Estate - Prices Begin to Climb

A recent Multiple Listing search for Elmhurst, IL, homes shows that even though the number of homes sold is still down, the home prices are beginning to climb. The information was broken down into one year increments dating back three years from today.

The bar graph above shows that although the number of homes sold are down about 27%, the last two years are nearly the same. This could suggest that the demand for homes in Elmhurst is stabilizing.

The graph above shows the prices in Elmhurst have increased nearly $13,000 in the last 12 months. Compare that to the 24-36 month ranges to see that the prices are only down about $11,000 from where the prices three years ago. As a percentage the difference is quite minimal at about 2 percent over this period or down about 3/4% per year.

The information shows that even though the national media is talking about how bad things are and how much worse things will get, the Elmhurst real estate market is already showing signs of stabilizing sales and increasing prices. If the demand stays around 350 homes sold or increases over the next 12 months we may see more increases in home values.

If you would like to receive an accurate valuation of your home, contact your Elmhurst Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included only detached single family homes.