Elmhurst Real Estate Market - It is not what you think!

Property values in Elmhurst, IL, are still better than 3 years ago. The data covers the last 4 years and shows that although the number of homes sold is down, the values are actually 15% higher than in 2005. The chart below shows the decline in detached single family homes sales from 2005-2008.

It is true, Elmhurst has shown declines in the number of homes sold. As a percentage, home sales are down about 22.4% during this period. Below you will see what has happened to local home values over this same period of time.

This graph shows the average price of homes sold in Elmhurst in the same time frame. Notice that the price in 2008 was almost $66,000 more than the prices three years ago and the prices actually spiked around $100,000 from 2005 to 2006 and remained there in 2007. The prices did fall in 2008 by about $42,000, but the only people that would have been affected significantly would be buyers in 2006 and 2007 who sold in 2008.

Consult your Elmhurst Realtor to get an accurate home valuation.

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