Elmhurst prices down, market times up year-to-date

The following market data is gleaned from the Elmhurst Real Estate Update published each month by the Gracik Makinney Group.

The average sales price ($337,991) year-to-date April 2012 was 13.58% below the average price in the corresponding period last year ($391,100). The median year-to-date price through April also fell from $320,000 to $269,000, a 15.937% decrease.

Eighty-nine Elmhurst properties were listed for sale in the MLS in April of this year, 18.35% fewer than the 109 listed in April of last year.

As of May 25, there were 403 active Elmhurst listings in the MLS, representing a 9.09 month supply of inventory at the current sales pace. A “balanced” market is considered to be a 5.5 month supply by real estate professionals.

The average days on market was up through April of this year to 162, compared to 146 for the same period last year.

Year-To-Date April 2012 vs. Year-To-Date April 2011, the average price in the Elmhurst Area was down 13.58%. The YTD average price was down from $391,100 to $337,991. The YTD median price decreased 15.937%, from $320,000 to $269,000. As of May 25, 2012 there were 403 active listings in the MLS, representing a 9.09 month supply of inventory (MSI). Remember, 5.5 months is considered a “balanced” market by most. Year-To-Date average Days on Market (DOM) was up from 146 thru April 2011 to 162 thru April 2012.

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