Elmhurst, IL November 2011 Real Estate Trends

Elmhurst, IL November 2011 Real Estate Trends

 

Year-To-Date November 2011 vs. Year-To-Date November 2010, the average price in the Elmhurst Area is down 4.17%.  The YTD average price is down from $395,022 to $378,554.  As for November 2011 vs. November 2010, the average price in the Elmhurst area is down 21.44%, from $387,821 to $304,660 according to MRED.  The YTD median price decreased .4% from $318,500 to $317,250.  As of December 19, 2011 there are 350 active listings in the MLS representing a 10.1 month supply of inventory (MSI).  Remember, 5.5 months is considered a "balanced" market by most.  Good news for sellers:  Year-To-Date average Days on Market (DOM) is down from 141 in November 2010 to 139 in November 2011.

MARKET SUMMARY - ELMHURST
  New Listings / % Change Closed Sales Avg. Price / % Change Median Price Days on Market
November 2011 49 / -32.88% 28 $304,660 / -21.44% $250,000 200
November 2010 73   26 $387,821   $275,000 125
Year-To-Date 2011 976 / -4.41% 401 $378,554 / -4.17% $317,250 139
Year-To-Date 2010 1021   365 $395,022   $318,500 141

 

 

 

The statistics presented in Market Tracker are compiled monthly based on figures and data generated by MRED for detached single family and attached single family properties. Due to possible reporting inconsistencies, Days on Market (DOM), average prices and rates of change should be used to analyze trends only. Property and statistical data sourced from MLS is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.

PLANNING FOR HOME IMPROVEMENTS IN THE NEW YEAR

If doing some home improvements is on your list of New Year’s resolutions, contracting for them now to begin early next year is a great idea. Many contractors are slow during the winter, so you may be able to see your repair completed in less time (and for less money) than in the other quarters of the year. If you are thinking of moving in 2012, make sure to contact us at the Gracik Makinney Group for some tips on what improvement costs you can recoup when selling and where you most likely won’t see much return. Hint: Modest kitchen and bathroom remodels usually pay off.

 

ARE YOU READY FOR WINTER?

Winter is one of our favorite times of the year!It's often easy to overlook your home's needs with so much going on. Here is a simple checklist of items that can save you money through the winter:

  • Check for leaks and drafts around the house. Replace weather stripping and re-caulk around doors and windows. Drafty doors and windows will cool off the house and cost you money in heating bills.
  • Inspect your attic's insulation. Heat rises so adding good insulation can keep the heat from escaping.
  • Check your heating system. Sometimes something as easy as replacing your filter or having simple maintenance done can save on heating costs.
  • Consider changing from standard light bulbs to energy saving bulbs. Winter uses a lot of your electricity so even saving a little here and there will help.

In the upcoming brisk Illinois winter, take this opportunity to inspect your home systems. You'll be money ahead in the long run!

 

 

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