January Newsletter

January Newsletter

December 2012 Real Estate Market Trends

As of December 2012, Elmhurst YTD sales are up almost 18%, from 435 to 509 homes sold. Year-To-Date December 2012 vs. Year-To-Date December 2011, the average price in the Elmhurst Area was down 0.01%. The YTD average price was down from $382,054 to $382,006. The YTD median price decreased 5.9%, from $320,000 to $301,000. As of January 28, 2013 there were 304 active listings in the MLS, representing a 8.52-month supply of inventory (MSI). Remember, 5.5 months is considered a "balanced" market by most. Year-To-Date average Days on Market (DOM) were up from 141 thru November 2011 to 144 thru December 2012.

 
MARKET SUMMARY - ELMHURST
  New Listings / % Change Closed Sales Avg. Price / % Change Median Price Days on Market
December 2012 44 / 18.92% 32 $377,975 / -10.28% $325,000 171
December 2011 37   31 $421,265   $346,250 163
Year-To-Date 2012 946 / -6.98% 509 $382,006 / -0.01% $301,000 144
Year-To-Date 2011 1017   435 $382,054   $320,000 141

 

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.

 

Market Pulse

Supplies have decreased sharply over the past year down 41.82% while going back to 2008 down 56.13%.  Median prices have dropped as well but at much lower rates over the past year (2.64%) compared to overall decrease since 2008 of 33.04%.

As I have continued to caution please understand what these changes in Median Prices are telling us.  These declines are NOT the actual rates of depreciation in the market.  Increased distressed sales are just one factor that has contributed to decreases in prices over the past several years.  Reductions in that facet of the market should therefore allow for Median Prices to increase.  Will that be the rate of appreciation?  No.  But it is one variable that will lead to stronger prices as the market does improve further.  If supply levels continue to remain low (many markets have actually experienced shortages), this will be an additional component to improving market conditions.

While it is too early to really know what direction the housing market will take in 2013, many pieces of the puzzle appear to be falling better into place that will hopefully allow for “13” to be a lucky number.

If any old valuation issues need further clarification or new concerns arise, I am always happy to provide my insight at your office meetings.  Please feel free to contact me with any questions with regard to the attached or any other issues that might arise.

Robert E. Headrick, SRA, SCRP

Robert E. Headrick & Associates, Inc.

Gracik Makinney Real Estate Group Joins Coldwell Banker Residential Brokerage Elmhurst Office

ELMHURST, Ill. (January 29, 2013) – Coldwell Banker Residential Brokerage is pleased to announce that Gracik Makinney Real Estate Group has joined the Coldwell Banker Elmhurst office.   This dynamic team consists of partners Maria Gracik and Tom Makinney, Gina Brigham, and Mary Riva.  The group has made quite a name for themselves over the years, selling over 370 homes and totaling over $190 million in sales since 2006, continuously ranking as top producers in Dupage County.  In 2011 the team was ranked #1 in the Elmhurst Market Share, and most recently grew their business by over 30% to place, for the 2nd year in a row, in the top ten agents of DuPage County for 2012.

 “I am thrilled to welcome Gracik Makinney Real Estate Group to the Coldwell Banker Residential Brokerage family,” said Nancy Thunberg, manager of the Coldwell Banker Elmhurst office. “They are a boutique group that goes the extra mile, helping their clients optimize the presentation of their home, identify their target market, develop a strategic marketing plan, and assess market value.  Their in-depth knowledge of the local community, proven track record of success and commitment to their clients make them valuable assets to our team.”

As two of the strongest individual producers in the Elhmurst area, Gracik and Makinney provided steep competition for each other for years, constantly challenging the other to the top spot.  They eventually joined forces in 2009, combining their extensive experience and unparalleled customer service to become an unstoppable team built on a shared passion.  “Joining Coldwell Banker was a clear choice for us,” said Gracik and Makinney.  “Having the number one global brand in real estate providing us the support and the tools necessary to grow our business is invaluable.  It was important for us to stay true to our commitment to integrity and to position ourselves to better serve our clients.” Maria Gracik can be reached at 630.306.7882 and Tom Makinney can be reached at 630.567.5902.

About Coldwell Banker Residential Brokerage

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 53 offices with more than 3,300 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visit www.coldwellbankeronline.com

 

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