Elmhurst, IL October 2011 Real Estate Market Trends

Elmhurst, IL October 2011 Real Estate Market Trends

Year-To-Date October 2011 vs. Year-To-Date October 2010, the average price in the Elmhurst Area is down 2.89%. The YTD average price is down from $395,575 to $384,152. As for October 2011 vs. October 2010, the average price in the Elmhurst area is down 18.29%, from $394,396 to $322,254 according to MRED. The YTD median price INCREASED .15% from $319,500 to $320,000. As of November 30, 2011 there are 377 active listings in the MLS representing a 10.67 month supply of inventory (MIS). 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 142 in October 2010 to 134 in October 2011.

MARKET SUMMARY - ELMHURST
  New Listings / % Change Closed Sales Avg. Price / % Change Median Price Days on Market
October 2011 69 / -13.75% 27 $322,254 / -18.29% $293,250 138
October 2010 80   27 $394,396   $347,500 115
Year-To-Date 2011 922 / -2.74% 369 $384,152 / -2.89% $320,000 134
Year-To-Date 2010 948   339 $395,575   $319,500 142

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.

Announcing the addition of Mary Riva to Gracik Makinney Group

Welcome, Mary Riva

Gracik Makinney Real Estate Group is proud to welcome the esteemed Mary Riva to our group. A former beauty salon owner in Oak Park, Mary is a 30 year veteran of the real estate industry, and has been a top producer in the Elmhurst area for a majority of that time. Her experience extends throughout DuPage County, where she has sold all types and styles of new and resale homes. As a generation of family, friends, and clients can attest, it is Mary’s inherent determination and huge heart that have assisted her to become the consummate professional. We invite you to reconnect with Mary Riva, or meet her for the first time, and see for yourself why Gracik Makinney Group is overjoyed to add her to the honesty and integrity of our company.

 

FINDING THE RIGHT COVERAGE

Do have the right coverage for your home?

When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy be in force prior to funding the loan. Make sure you have enough coverage, should anything happen. Policies refer to "replacement costs" that may not cover everything. You should ask your insurance agent a lot of "what if" questions. The deductible amount also plays a big part in setting your premium. Higher deductibles lower the number of claims, and reduce your insurance costs.

Check with your insurance agent for more information on these issues, and any others. If you don't have an insurance agent, we have access to several top-notch agents we can refer you to with confidence.

 

 

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