Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $1,139,000

More Information

Oct. 2018 Market, Bees & Food Trucks

Elmhurst Market Statistics for September

Prior 12 months property sales decreased from 630 in 2017 to 601 in 2018.  September 2017 property sales vs September 2018 property sales decreased from 48 to 42 homes sold. Prior 12 months average sales price increased 6.3% from $522,476 in 2017 to $555,394 in 2018.  The September Average Sales Price increased 12.3% from $475,523 in September 2017 to $533,898 in September 2018. The September 2017 vs. September 2018 median price increased 22.7% from $348,306 to $427,500. The September Average Days  on Market (DOM) increased from 112 in September 2017 to 114 in September 2018.

 

The September 2018 MSI of 5.78 months was at its highest level compared with September of 2017. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.

 

The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%, the more of a Buyer's market exists; a ratio at or above 100% indicates more of a Seller's market. The September 2018 Selling Price vs. List Price of 96.0% decreased 0.6% from 96.6% in September of last year.


Elmhurst Explores Ideas of Beehives and Food Trucks

We love how the leaders and planners in Elmhurst are constantly challenging themselves to improve and make life better for residents. Right now, the city is listening to an influx of requests and considering two concepts: one to allow residential beekeeping and one eyeing the possibility of food trucks.

Residents have been buzzing about the possibility of beehives since the city allowed educational institutions to establish hives. Currently, Elmhurst College has two thriving hives, and York High School has plans in the works but nothing up yet.

Of the 39 communities in DuPage County, 15 of them allow some type of residential beekeeping, usually with some type of restriction on lot sizes and distance between residences and with the understanding that the practice is only in hobby form.

Members of the Public Affairs and Safety committee are now researching specifically how those communities handle the bees and beehives.

Also hitting the pavement are members of the Development Committee as they begin looking at the possibility of food trucks in Elmhurst.  These are food trucks that actually cook the food as opposed to canteen trucks, which sell drinks and pre-prepared food and are popular around construction sites, and ice cream trucks.

Although the food trucks aren’t expected to generate booming business, alderman see them being popular at block parties. But they want to ensure the trucks don’t have a detrimental impact on brick and mortar restaurants and bars.  One suggestion was to allow them to operate near a central downtown location and only between the hours of 10 p.m. and 1 a.m.

Committee members are now going out to talk to local restaurant owners and members of Elmhurst City Centre.

Plans Move Forward for Elmhurst Dog Park


Tails are wagging across Elmhurst since the Park District moved one step closer to finalizing plans for a dog park in south Elmhurst. The board of commissioners recently approved a design plan for the potential park to be located on 3.4 acres off Old York Road on a former trailer park property.

Following a July 26 open house for residents to view proposed designs, the Park District and Upland Design of Plainfield (which has been analyzing the site, collecting public input, and preparing preliminary designs) released its dog site park site analysis.

Plans for the dog park include separate areas for big and small dogs, a water feature, a walking path within the park, and a shade structure as well as seating. A paid permit will be required to use the dog park.

A tentative cost estimate of close to $2 million would include clearing brush and dead trees; removing pavement, a small office building, and a garage; and construction costs of the actual park. Those numbers are not firm, however, and will likely change once plans are finalized and bids go out. The park district will most likely find additional sources of revenue (such as partnerships, grants, or even a referendum) to offset the costs.

No timeframe has been set for construction to begin. Cost will likely play a large factor in how quickly it can go constructed.

The push for a dog park came about after the community showed interest in the Vision 2020 Community Needs Assessment survey.