Elmhurst real estate news & market updates

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August 2016 Elmhurst Real Estate Market Update!

Elmhurst Market Statistics for July

Prior 12 months property sales decreased from 601 in 2015 to 582 in 2016.  July 2015 property sales vs July 2016 property sales decreased from 70 to 65 homes sold. Prior 12 months average sales price increased 6.3%, from $496,084 in 2015 to $527,480 in 2016.  The July Average Sales Price increased 24.2%, from $520,037 in July 2015 to $645,888 in July 2016. The July 2015 vs. July2016 median price increased 44.6% from $415,000 to $600,000. The July Average Days on Market (DOM) increased from 80 in July 2015 to 113 in July 2016.


The July 2016 MSI of 4.44 months was at its lowest level compared with July 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 July2016 Selling Price vs. List Price of 95.3% increased .5% from 94.8% in July of last year.

York Named One of Best High Schools in US by Newsweek

Hats off to the Dukes! York High School was recently named one of Newsweek’s Top High Schools 2016.
York was ranked 186 out of 500 schools nationwide and the 12th best high school in Illinois. The last time York made the list was in 2013 when it was ranked 449.

Only six schools in the western suburbs were included on the list: Hinsdale Central (#34), Nequa Valley in Naperville (#154), York (#186), Wheaton North (#204), Waubonsie Valley in Aurora (#260), and Hinsdale South in Darien (#454).
The top-rated school in Illinois was Northside College Preparatory High School in Chicago, which came in at eighth place. Thomas Jefferson High School for Science and Technology in Alexandria, Va., was named the top school in America for 2016.  
Newsweek looked at six measurements and weighted them to achieve a “college readiness index.” Those factors included test scores, college acceptance and enrollment, AP participants, and graduation rates.
York has a student retention rate of 96% and a SAT/ACT composite of 53.2. The school’s average test scores are:  SAT—1819, ACT — 24, and AP —89. Students at York have a graduation rate of 97.2% and a college bound rate of 94.9%.
Of the nation’s 15, 819 public high schools, 6,477 of them met Newsweek’s criteria to be considered in the rankings.
Go Dukes!

Improvements Planned for Elmhurst Train Station

The Elmhurst train station is preparing for a facelift. Residents are encouraged to offer their opinions in an online survey to help the design team determine what improvements have priority.

The current station was last updated in the 1980s. It serves approximately 2,300 passengers a day, and includes a depot with a ticket office, waiting room, small coffee shop, and restrooms on the inbound side of the tracks. There is also an open-sided shelter on the outbound platform, and a pedestrian underpass linking the incoming and outgoing platforms.

The city has already hired the engineering and construction firm of CDM Smith to handle the architectural design and phase I engineering. The firm plans to identify needed improvements and create a design that maintains the general architectural style of the neighborhood.

In that spirit, the city and CDM Smith held an open house last week and put together a survey seeking input from residents, the business community, and Metra commuters.

The project will include the renovation and/or reconstruction of the platforms and facility, and ensure compliance with the Americans with Disabilities Act. It will also review access to the train station, car parking, bike parking, pedestrian accessibility, and general infrastructure. There are currently no bus lanes or designated drop-off areas, making congestion sometimes problematic, particularly during rush hours.

Total costs are estimated to run between $8-12 million. The Public Affairs and Safety Committee hopes to have a completed design in place by the end of October, with construction beginning in spring 2018 and finalized by winter 2019.

To take the online survey, visit www.Elmhurst.org/MetraStationSurvey.

Having easy access to Chicago and other western suburbs via Metra trains is a valued aspect of living in Elmhurst. To learn more about life in our city and other perks, call us anytime at (630) 441-5570 or visit us atwww.gmregroup.com



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