Wednesday, March 22, 2017

Elmhurst home sales this year

Elmhurst has many great family owned businesses with long traditions of community involvement.
Our Chicago clients are moving to Elmhurst to buy a home for their growing family.  They picked the suburb due to schools, budget, transportation to the city and proximity to O'Hare. There are many options under $500,000 but they are far from perfect.  Let's take a quick look at single family home sales in this desirable city to the west.

Elmhurst home sales January 1st to March 21st, 2017
90 single family homes have sold this year in Elmhurst with a median price of about $390,000.  About 67 of those homes closed south of West North Avenue (where our clients are looking.) The median price also came in at $390,000.   

Most houses sold below the median price of $390,000 and within a mile or so of the Elmhurst Metra  (close to downtown) tend to be a little tight in size, very vintage or will need major renovations/ tear down. Homes that are close proximity to the highway noise or train tracks around the edges of Elmhurst tend to be more affordable.  You get more space and better finish level for the money.
  • 76 single family homes sold in 2016 with a median price of $385,000.  
  • Go back several years to 2013 and 92 single family homes closed with a median price of about $330,000.
The price quickly creeps up to $500,000 for a well conditioned house with three decent sized bedrooms up, at least two full baths, finished basement or family room space and quiet residential location.

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