Elmhurst real estate news & market updates

Featured Listing

Featured Listing

For Sale: $1,075,000

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April 2016 Elmhurst Real Estate Market Update!

Elmhurst Market Statistics for March

Prior 12 months property sales increased from 573 in 2015 to 607 in 2016.  March 2015 property sales vs March 2016 property sales decreased from 48 to 46 homes sold. Prior 12 months average sales priceincreased 2.8%, from $484,074 in 2015 to $497,712 in 2016.  The MarchAverage Sales Price decreased 3.4%, from $481,700 in March 2015 to $465,433 in March 2016. The March 2015 vs. March 2016 median priceincreased 9% from $360,000 to $392,500. The March Average Days on Market (DOM) increased from 121 in March 2015 to 140 in March 2016.

 

The March 2016 MSI of 9.13 months was at its highest level compared with March of 2015. 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 March 2016 Selling Price vs. List Price of 94.4% increased 1.3% from 93.2% in March of last year.


 

@Properties Ranks 11th in Nation

The results are in! @properties was recently ranked 11th in the nation for real estate volume sold in 2015 among independently-owned brokerages. The report was released by REAL Trends 500, which ranks the performance of the top residential real estate brokerage firms in the country by both sales volume and transaction sides.

All firms ranked are independently verified, and firms need to close a minimum of 1,702 transaction sides in 2015 to place in the top 500.

The 11th ranking in volume is the highest of any firm in Illinois. For transaction sides, @properties ranked 22nd out of 500. Not all firms recognized make both lists.

Results of the report show that the nation’s leading realty firms outperformed the market compared with the results reported by the National Association of Realtors and the National Association of Home Builders. The leading firms saw unit sales up 13.1%, with sales volume up 15.3%, indicating that size and leadership make a difference.

Let us show you what makes us so successful. Give us a call at (630) 441-5570 or contact us at www.gmregroup.com.

 

 
 

Investing in Real Estate

Today's low interest rates and stabilized home prices have created some great investment opportunities! Investing in real estate has unique advantages over other types of investments:

  • Interest in mortgage loans are tax-deductible. Investors can lower their tax liability while increasing their equity.
  • Renters pay down your mortgage loan. Investors reap the benefits of rental income, which offsets your mortgage cost and build equity.
  • Real Estate values increase over the long term. Real Estate is limited and will always be in demand. 
  • 1031 exchanges are available to defer taxable income when you are ready to sell.

Many investors are taking advantage of these great market conditions. Have questions? Give us a call at (630) 441-5570 or contact us at www.gmregroup.com.

 
 
   
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