Elmhurst real estate news & market updates

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Featured Listing

For Sale: $670,000

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Nov. 2018 Update, George Kafka, Orth Christmas

Elmhurst Market Statistics for October

Prior 12 months property sales decreased from 633 in 2017 to 596 in 2018.  October 2017 property sales vs October 2018 property sales decreased from 41 to 35 homes sold. Prior 12 months average sales price increased 5.6% from $525,589 in 2017 to $554,906 in 2018.  The October Average Sales Price decreased 1.4% from $560,042 in October 2017 to $552,411 in October 2018. The October 2017 vs. October 2018 median price decreased 20.2% from $507,500 to $405,000. The October Average Days on Market (DOM) increased from 75 in October 2017 to 101 in October 2018.

 

The October 2018 MSI of 6.74 months was at its highest level compared with October 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 October 2018 Selling Price vs. List Price of 93.2% decreased 2.6% from 95.7% in October of last year.

 


George Kafka Joins Gracik Makinney Group

We’re thrilled to welcome the newest member of our team, George Kafka!

George has more than 20 years in the real estate industry, although he has actually been involved in it his whole life, having watched and helped his father in his real estate and construction business.

Not only is he skilled at negotiating and representing both buyers and sellers, he has experience in rehabbing houses, flipping houses, new construction, and leasing, allowing him to offer a full range of services to sellers and buyers. He prides himself on being a visionary and helping clients find the hidden potential in homes. He’s also an expert on staging a home and is able to offer tips on everything from hardware to decluttering to full-house staging.

Having spent years in construction and grown up with a tool belt on means he is able to look beyond the pretty colors and examine the core elements of a house, from plumbing to roofing to structural design.

A lifelong Chicagoan, George lives in the western suburbs with his wife and three children. He has an undergraduate degree from Northern Illinois University and an MBA from North Park University.

George uses cutting-edge technology, creative marketing, and an old-fashioned approach to helping buyers and sellers get exactly what they need.

We’re excited to have George on the Gracik Makinney team. His experience and professionalism make him a great fit not only on our team but for clients as well.

To contact George or anyone on the Gracik Makinney team, call (630) 441-5570 or visit our website, www.gmregroup.com.

And be sure to like Gracik Makinney Real Estate Group on Facebook and follow us on Instagram at GracikMakinney_RealEstate.

Elmhurst tree will be star of Chicago’s Christmas scene

Chicago’s official Christmas tree will actually be an Elmhurst tree. Longtime resident Deborah Orth’s 60-foot Norway Spruce will be aglow all season in Millennium Park.

The 48-year-old tree has graced the yard of the Orth’s home since it was built in 1949.  It weighs a whopping 8,200 pounds. Workers came last Thur., Nov. 1, to cut it down and bring it to Millennium Park.

It will be adorned with approximately 30,000 glowing lights, and the Orths will have the honor of flipping the switch at the official tree lighting ceremony on Fri., Nov. 16.

The city put out the call for a tree in mid-September, and the Orth’s tree was chosen by out of 79 submissions. 

To qualify trees must be at least 55 feet tall, be less than 100 miles from Chicago’s Loop, and be a Spruce or Fir (pine trees aren’t sturdy enough). Applicants must send in two photos and a brief description of why their tree deserves to be the city’s official tree.

The tree will get it’s chance to shine next week. Festivities kick off at 6 p.m. on Friday, Nov. 16. The star of Chicago’s production of Hamilton, Miguel Cervantes, will be the host of the evening. In addition to the tree lighting and appearances by Santa and Mrs. Claus, there will also be performances by the cast of ‘Twas the Night Before Christmas and musicians from the Grant Park Music Festival.

Congratulations to the Orth family! We’re proud that a local tree will be enjoyed through Jan. 6 at Millennium Park. To find out more about the houses (and trees) in Elmhurst, call us at (630) 441-5570 or visit gmregroup.com.