Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $925,000

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July 2018 Market, D205 Boundaries, New Businesses

Elmhurst Market Statistics for June

Prior 12 months property sales decreased from 646 in 2017 to 612 in 2018.  June 2017 property sales vs June 2018 property sales increased from 84 to 87 homes sold. Prior 12 months average sales price increased 5.6% from $531,188 in 2017 to $560,965 in 2018.  The June Average Sales Price increased 17.2% from $512,317 in June 2017 to $600,356 in June 2018. The June 2017 vs. June 2018 median price increased 8.8% from $453,100 to $493,000. The June Average Days on Market (DOM) increased from 68 in June 2017 to 84 in June 2018.

 

The June 2018 MSI of 4.13 months was at its highest level compared with June 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 June 2018 Selling Price vs. List Price of 96.4% increased 0.3% from 96.1% in June of last year


No New School Boundaries for District 205

The Elmhurst Community School District 205 board is one step closer to finalizing its master facility plan for upgrading facilities and services.

For the foreseeable future, the controversial question as to whether or not to redraw school boundaries has been shut down. Most boundary lines will remain the same; however, a small percentage of students from Hawthorne will move to Edison, and a small percentage of Jackson students will be bussed to Edison.

There is no timeframe for if or when this plan would go into effect. But any student currently attending either school would not have to change school. And there is the possibility that current homeowners would be grandfathered into their current home school.

The board is attempting to make class sizes more equal across the district.  This plan would redraw some school lines with minimal impact.

Other issues the school board has been weighing for the past three years include an all-day kindergarten program and two new school buildings (Lincoln and Field).

If the district wants to put it a bond referendum to vote in the November election, it has until Aug. 14. Otherwise, it will need to wait until 2020 or propose a referendum.

The board will be conducting a phone poll to approximately 300 residents for their input, and results will be provided by Aug. 9.

Items still under discussion include upgrade specifics, how to implement an all-day kindergarten (per school or at a central location), whether to rebuild or renovate Lincoln and Field schools, which are nearly century-old buildings, and the final cost.

Fried Chicken and Home Decorating – New Businesses Opening in Elmhurst Soon


Two exciting new businesses will be moving into Elmhurst this summer, and we can’t wait.

Fry the Coop will be opening at North Ave and Route 83. The restaurants serves Nashville hot chicken—fried chicken slathered in a spicy sauce, ranging from mild/no-heat to super spicy (made with the certifiably world’s hottest chili, the Carolina Reaper). They serve chicken sandwiches, chicken tenders, chicken and waffles, and their popular donut fried chicken sandwich, which is served on a glazed doughnut.

This is the second Fry the Coop location for Villa Park native Joe Fontana. His first restaurant in Oak Lawn opened in 2017 and has been an instant hit. Fontana grew up cooking meatballs with his grandmother and felt fried chicken kept with that traditional home cooking theme. He keeps the menu small to ensure the quality, and the chicken is fresh, never frozen, and hand breaded daily. In addition to chicken, Fry the Coop serves a handful of sides and a rotating selection of craft beers.

On a different scale, but equally exciting is the new At Home home décor superstore set to open in late summer in the former Kmart space on Route 83. Designed to make decorating affordable and fun, the 103,000-square-foot space will feature more than 50,000 home decorating items, including furniture, rugs, housewares, patio furniture, and a wide selection of seasonal décor.

The store focuses on a wide range of affordable items, with about 400 new products coming in every week. Based in Plano, Texas, this is their fifth store in Illinois. A location in Geneva opened in May to rave reviews.

We love seeing vibrant new businesses move into our community! And we’re looking forward to relaxing in a redecorated space after a delicious fried chicken dinner!