Elmhurst real estate news & market updates

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January 2017 Market Update, D205 dual-language pro

Elmhurst Market Statistics for December

Prior 12 months property sales increased from 585 in 2016 to 624 in 2017.  December 2016 property sales vs December 2017 property sales decreased from 38 to 28 homes sold. Prior 12 months average sales price decreased 1.9%, from $536,784 in 2016 to $526,578 in 2017.  The December Average Sales Price decreased 4.6% from $522,401 in December 2016 to $498,152 in December 2017. The December 2016 vs. December 2017 median price decreased 9.3% from $403,500 to $365,835. The December Average Days on Market (DOM) increased from 93 in December 2016 to 103 in December 2017.


The December 2017 MSI of 4.82 months was at its lowest level compared with December of 2016. 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 December 2017 Selling Price vs. List Price of 93.6% decreased .2% from 93.8% in December of last year.


Elmhurst D205 to offer dual Spanish-English curriculum

Beginning in the 2018-19 school year, students in D205 will have the opportunity to enroll in a dual language program (Spanish/English) at Conrad Fischer Elementary.

The classes will be regular curriculum classes taught in both English and Spanish, with an equal mix of native English speakers and native Spanish speakers. There will be at least 50% of instruction in each level, and the curriculum will match the regular English curriculum.

The program is aimed at not only helping native Spanish speakers learn English but also to help native English speakers become truly fluent in Spanish.

While providing bilingual classrooms and curriculum is mandatory for all public schools in Illinois who have 20 or more students of one language in the school, a dual language program goes a step further to fully integrate two cultures. The hope is that both groups will pick up a second language and emerge from the program fully fluent in both languages.

The goal of the program is that by the end of elementary school, all students in the program are fluent in both languages and have academic performance that exceeds their monolingual counterparts.

A recent study revealed that students who complete a dual language program enter middle school outperforming their peers by as much as one grade level in all subjects.

It’s a win-win situation where Spanish students will develop their native language rather than losing it (and close the gap between Spanish-speaking students and their English-speaking counterparts) while English speakers will add a second language without sacrificing English development.

For the first year, the program will focus on kindergarten, but it is expected to continue through fifth grade.

There were concerns from some parents that teachers wouldn’t be able to teach enough Spanish while others were concerned that the school doesn’t have enough room. Current plans involve extensive language training for teachers over the summer and two classrooms dedicated to the program.

There are numerous benefits to speaking two languages including increased executive functioning, protection against cognitive decline, and a cultural awareness, sensitivity, and appreciation for other languages and cultures.

And in this world of global citizenry, it’s hard to argue with that.

Don’t let your home sale be stalled by roadblocks

If you’ve ever wondered why some houses sit on the market for weeks or months while others get snapped up in a matter of days, we have some answers. There are some frequent roadblocks that often lead to a languishing listing. Luckily, they’re all easily fixable.

  1. Mediocre Asking Price. Buyers are often indifferent if the price is too high compared to similar homes. And often, you’re missing an entire segment of the market who are only searching in a certain range. The right price makes the home stand out in comparison, especially if it’s an oversupplied sub-category. Don’t make the mistake of thinking that a higher price gives you more negotiating room. In reality, the right buyers either don’t see it or move on when they see better homes in the same price range.
  2. Outdated or dirty. Homes should either be beautifully dated or updated and CLEAN. A clean, dated, and staged home with a compelling asking price sells and so does a clean, updated, staged home with a compelling asking price. Make sure walls, ceilings, and floors are washed and cleaned (and wipe the countertops frequently).
  3. Too much clutter. Buyers want to envision themselves in a home. It can be hard to see beyond too many knickknacks or papers or laundry. Too much furniture makes rooms feel smaller and claustrophobic.

If your home is still languishing despite having the right price and being properly updated and clean, consider staging. Staging involves someone coming in and helping place furniture, artwork, plants attractively as well as removing excess items that may make buyers think the home is smaller or has too little storage space.

Here at Gracik Makinney, we help all of our clients not only price their homes but offer advice and tips for what to update, clean, and remove. Call us for more information, (630) 441-5570 or visit our website www.gmregroup.com