Elmhurst, IL Homes for Sale & Real Estate Listings

In October 2024, home prices in Elmhurst saw a year-over-year increase of 7.1%, with the median sale price reaching $643,000. Homes in the area sold slightly faster, averaging 57 days on the market compared to 59 days the previous year, signaling a steady demand. However, the number of homes sold declined, with 35 transactions this October compared to 39 in the same month last year. This decrease in sales volume, despite rising prices, suggests a possible tightening of inventory or a shift in buyer behavior. The combination of higher prices and slightly quicker sales indicates a resilient market, where well-priced homes continue to attract interest.

Elmhurst is a moderately competitive housing market, with homes typically selling in about 48 days. While not all properties receive multiple offers, some do, particularly those in desirable locations or priced competitively. On average, homes sell for approximately 1% below their list price and go under contract within 48 days. However, "hot" homes—those that generate strong interest—can sell for about 1% above the list price and go pending in as few as 33 days. This mix of market conditions highlights opportunities for both buyers and sellers, with well-presented homes moving quickly and at favorable terms.

In November 2024, Elmhurst, IL, was a seller's market, with demand for homes outpacing the available supply. This competitive environment benefits sellers, often leading to quicker sales and strong pricing, as buyers compete for limited inventory. For buyers, navigating this market may require decisive action and potentially offering above the list price for desirable properties. The tight housing supply highlights Elmhurst's appeal as a sought-after location for homebuyers.