Year-To-Date September 2011 vs. Year-To-Date September 2010, the average price in theElmhurst Area is down only .73%. The YTD average price is down from $392,963 to $390,098. As for September 2011 vs. September 2010, the average price in the Elmhurst area is down 1.39% according to MRED. The average price decreased from $374,954 to $369,748.  The YTD median price INCREASED 1.02% from $315,000 to $321,500. As of October 27, 2011 there are 418 active listings in the MLS representing a 9.95 months supply of inventory ending a 6 month consecutive decrease in months supply of inventory.  Remember, 5.5 months is considered a "balanced" market by most. Good news for sellers: Days on Market (DOM) is down from 144 YTD September 2010 to 131 YTD September 2011, a 9% decrease.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOCAL LENDING SOLUTIONS

Low interest rates and stabilizing inventories have offered peace of mind for many real estate investors nationally. 

NAR President Ron Phipps sees opportunity for would-be buyers. "All year, the relationship between home prices, mortgage interest rates and family income has been hovering at historic highs, meaning the best housing affordability conditions in a generation," he said. "The biggest factors keeping home sales from a healthy recovery are mortgages being denied to creditworthy buyers, and appraised valuations below the negotiated price. Buyers may be able to find more favorable credit terms with community and small regional banks, and Realtors can often give buyers advice to help them overcome some of the financing obstacles."

Contact us today for a list of qualified, reputable lenders who can help secure financing for your next home purchase or refinance.

SELLING OPPORTUNITIES

Selling your home in today's market requires strategy and execution. Here are three tips to help sellers reduce their time on market:

  • Make it shine. Buyers are attracted to attractive homes. Make your home stand out by mowing the lawn, raking the leaves, washing windows, and cleaning the carpets. These are small things that will make a big difference. 
  • Remove clutter. Not only do clean homes show better, but tidy homes offer more to the imagination. One person's treasure is another person's trash. Removing unnecessary clutter will help potential buyers envision their own potential or the home. 
  • Pay attention to the market. Work with your agent and price your home to sell. A competitively priced home is the one that sells first, and in this market that counts for a lot.

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!