Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $519,900

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June 2019 Update,Elmhurst Univ,Prep House for Sale

Elmhurst Market Statistics for May

Prior 12 months property sales decreased from 609 in 2018 to 574 in 2019.  May 2018 property sales vs May 2019 property sales increased from 68 to 71 homes sold. Prior 12 months average sales price increased .3% from $548,627 in 2018 to $550,522 in 2019.  The May Average Sales Price decreased 3.3% from $566,227 in May 2018 to $547,356 in May 2019. The May 2018 vs. May 2019 median price decreased 16.1% from $488,750 to $409,900. The May Average Days on Market (DOM) increased from 77 in May 2018 to 89 in May 2019.

The May 2019 MSI of 5.81 months was at its highest level compared with May of 2018. 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 May 2019 Selling Price vs. List Price of 95.8% decreased .6% from 96.4% in May of last year.


Elmhurst College to Become Elmhurst University

A big but not-so-big change is in store for Elmhurst College, which will soon become Elmhurst University

In June 2020, Elmhurst College will officially become Elmhurst University. The college’s board of trustees approved the name change on June 15, and it will go into effect one year before the school’s 150th anniversary in 2021. However, the core values and programs of the school will remain intact.

Elmhurst College currently offers 20 master’s degrees graduate certificate programs, and the name change better reflects that depth and breadth. The college hopes the name change will enhance recruitment and name recognition amongst international, graduate, and nontraditional students, as well as reduce misconceptions of potential employers, assist in academic and partnership opportunities, and allow for greater opportunities for participation in international and other off-campus programs.

The plan has been in the works for more than three years. In 2016, President Troy D. VanAken initiated a strategic planning process in anticipation of the school’s sesquicentennial anniversary. In 2018, college administrators began holding a series of meetings and discussions before making the change, consulting with faculty, staff, and students, as well as the board of trustees and alumni groups. The recommendation went through a series of campus groups before going to the board of trustees for final approval.

Current graduate degrees include master’s programs in business administration (MBA), industrial/organizational psychology, early childhood education, special education, nursing, occupational therapy, and computer information technology. Graduate certificate programs include data science, project management, and market research.

The school formed an advisory committee, which includes board members, faculty, staff, students, and alumni—to lead the transition and ensure that all stakeholders have a say and understanding of the planning and implementation of the change.

Elmhurst College has always been a strong school, recognized nationally by external ranking surveys, such as U.S. News and World Reports. The emphasis on academics, a liberal arts education, and professional preparation will remain unchanged.

Having a college/university right in our center is one aspect of what makes Elmhurst so culturally unique. The programs it offers and the variety of students who attend add to the energy and vigor of the city.

Prep Your House for a Fast Sale

Smart sellers understand that a proactive selling strategy can go a long way in getting their home sold quickly and for top dollar. Here are three tips for today’s sellers:

  • Make your home shine. Buyers like to envision a home they can move right into. Clean carpets, fresh paint, and a nicely landscaped yard can go a long way to make perspective buyers feel at home.
  • Anticipate the selling season. Many sellers wait for the market to pick up before they place their home for sale, but smart sellers anticipate these seasonal adjustments and list their homes early in the sales cycle. Give yourself the best opportunity by placing your home on the market before everyone else does!
  • Price your home right. Markets change, so don't be influenced by last year's selling activity and home prices. We will evaluate your home based on the most recent sales data and price it to sell for the most money in the shortest amount of time.

You have an excellent opportunity to sell your home this season if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market today in many places is so competitive that even overpricing by a few thousand dollars could mean that your house will not sell as soon as it could.

An overpriced home:

  • Minimizes offers
  • Lowers agent’s response
  • Limits qualified buyers
  • Lowers showings
  • Lowers prospects
  • Limits financing
  • Wastes advertising dollars
  • Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation—just honest advice on how to get top dollar for your home!