Elmhurst Real Estate Guide (Q1 2022) by Kelly Stetler Real Estate

Q1 2022

ELMHURST

LOCAL REAL ESTATE GUIDE

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While we typically focus on real estate and related areas of interest, there are some topics beyond this scope we are compelled to address. We felt this way about the pandemic and encouraged digging deep to support local like never before. Now, we hope Elmhurst will continue to rally behind the people of/from Ukraine. In early April, community members and organizations gathered for a wonderful moment of togetherness and a day of giving at Wilder Park. Please consider donating to relief efforts (more information on reputable organizations at www.elmhurst.org/ukraine). The Elmhurst real estate market continued to move quickly as prices increased with sustained lack of home availability. If you are considering selling your home in 2022, now is the time with buyer demand still strong before interest rates climb further. For the cover we chose the Elmhurst Art Museum. This year is the 25th annual Art in the Park and we are thrilled to be the presenting sponsor! All my best,

630.750.9551 kelly.stetler@compass.com www.kellystetlerrealestate.com 2

WHAT’S INSIDE 6

New Listings

Contracted Homes

Closed Homes

(Kelly Stetler, Compass Real Estate)

New Construction

Mudroom Magic

Home Inventory

(Michelle Polay, Polay Interiors)

Contract Time

FICO Scores

Price Discounts

(John Noldan, Guaranteed Rate)

Price Per Sq. Ft.

Appraisal Issues

Closed Sale Prices

(Themis Katris, The Katris Law Group)

Comparing Home Types

Roofing Review

Comparing Suburbs

FEATURES 8 9 16 24 25

Seller Myths Common Real Estate Myths

Must-Haves for Your Mudroom

Getting Financially Ready to Buy

If the Appraisal Comes in Low

Determing if Your Roof Needs Work (Jessica Fese, Feze Roofing)

EVERY ISSUE 3

METHODOLOGY Overview of Terms and Elmhurst Submarkets CLOSED: closed transaction reflecting the final sales price (does not include any seller credits) NORTHEAST CONTRACTED: contingent or pending transaction reflecting the latest asking price CONTRACT TIME: number of days between the first list date and the contracted date (does not include time from contract to close) HOME INVENTORY: number of homes currently available for sale

NORTHWEST (North Ave. to Lake St. and Rte. 83 to Hwy. 290)

CENTRAL WEST

CENTRAL EAST

(Prairie Path to North Ave. and Rte. 83 to York St.)

(Prairie Path to North Ave. and Hwy. 290 to York St.)

MEDIAN: middle value of a given dataset (all report values are medians, which are less impacted by outliers than averages) PRICE DISCOUNTS: percentage difference between the initial list and recorded sale price PRICE PER SQ. FT: ratio of the price to the square footage of a closed transaction as a relative price measure (factors in home size)

(Lake St. to Grand Ave. and Hwy. 290 to Rte. 83)

SOUTHEAST (Prairie Path to Butterfield Rd. and Hwy. 290 to York St.)

SOUTHWEST (Prairie Path to Butterfield Rd. and Rte. 83 to York St.)

Note: All figures represent detached single-family homes unless otherwise specified. Price range data based on the city of Elmhurst. Submarket figures based on the approximate areas identified on map above.

MARKET SUMMARY “Seller’s Market” Remains During Strong Spring Market Lower Listing and Contract Activity

New Home Listings (Q1)

18%

Contracted Homes (Q1)

New Construction Leveling Off

New Home Permits (Q1)

New build permits flattening at pre-pandemic levels after a significant recovery in 2021

Home Inventory (March)

30%

Fewer Available Homes Short Market Times

List to Contract Days (Q1)

Narrow Price Discounts

Sale Price Discounts (Q1)

Higher Relative Sale Prices

Sale Price / Price Per Sq. Ft. (Q1)

22%

Closed Homes (Q1)

“Seller’s market” with 15+ year low of available homes this time of year

Mostly 2 – 3 weeks across submarkets and price points; some homes much quicker

Tight discounts of less than 2%; houses selling near or above full price

Higher relative prices across submarkets and price points 5

NEW LISTINGS By Price Range

Rolling Last 12 Months (YoY%)

 New listings were down YoY for the quarter, except homes priced $1M+  January listings were flat with February down 10% and March down 30%+  Listings at $1M+ have continued to grow as Elmhurst becomes more expensive

600

 Mixed listing activity with increases at certain prices and shortages at others

500

<$400K

$400K – $699K

$700K – $999K

$1M+

506 (+21%)

400

Price Range

'22

'21

<$400K

-43%

$400K - $699K

-13%

$700K - $999K

-26%

$1M+

20%

300

307 (-10%)

200

193 (+20%) 172 (-23%)

100 0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Jan. – Mar. (YoY%)

By Submarket

Rolling Last 12 Months (YoY%)

 Q1 showed mostly lower listing activity across submarkets, except Central areas  Central West and Central East are the only submarkets with more listings over the last 12 months  Southeast Elmhurst listing activity is down significantly over the last two years after a period of large increases

Northwest

Northeast

Central West

Central East

Southwest

Southeast

400

300

272 (-2%)

Jan. – Mar. (YoY%) Submarket

'22

'21

209 (+3%) 192 (-3%) 172 (+7%)

Northwest

-26%

126 (-2%)

Northeast

-45%

Central West

12%

Central East

Southwest

-19%

Southeast

-21%

200

100

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

93 (-2%)

Contributed By:

SELLER MYTHS Common Real Estate Myths Among Sellers

Kelly Stetler

Selling Yourself is Cheaper

Price High to Leave Room for Negotiation

You can save cost if you have the time, knowledge and resources to sell yourself. However, an agent will drive buyer traffic, create competition and negotiate to maximize total sale proceeds

In today’s hot market it is tempting to aim (very) high on asking price. Every situation is different. Starting at a “market” price could generate more buyer activity, multiple offers and a better outcome

Choose the Agent that Values Your Home the Highest

All Agents / Agencies Provide Similar Service

An experienced agent will appropriately value and set a strategy to market your home. Never pick an agent solely because of the value they place on your home (or the price they would list for sale)

Spring and Summer are the Best Times to Sell While real estate has seasonal characteristics favoring warm months in a normal market, they have been less of a factor given the significant shortage of available homes today

Each agent comes with a unique set of skills and experience. Further, agencies may be local, regional or national with varying technology and reach, which can impact your home sale process

Real Estate Websites Accurately Estimate Value These sites (e.g. Redfin, Zillow, etc.) are often based on algorithms. They do not fully factor in local nuances and qualitative factors that can dramatically impact the actual value of your home

Contributed By:

MUDROOM MAGIC Must-Haves for Your Mudroom

Custom Cabinets / Storage With built-ins, you can fit the needs of your family with cubbies and shelves for organization

Decorative Hooks Install wall hooks for coats, jackets and scarves that are easily accessible and fit the style

Seating / Bench Consider adding seating to the built-in lockers or a bench with drawers. This mudroom has both!

Electronics Charging Convenient charging outlets / docking station provides a dedicated space for your devices

Pet Space Functional area for pet-loving families used to store a crate (shown here), food, etc. 9

CONTRACTED HOMES By Price Range

Rolling Last 12 Months (YoY%)

 Contracted homes were down 20%+ YoY for the quarter, including all price ranges except homes priced $1M+  While contracts were up slightly in January, they were down ~30% YoY for February and March

375

 Declining contracted homes are trending similarly with lower listing activity

300

<$400K

$400K – $699K

$700K – $999K

$1M+

271 (+4%)

Jan. – Mar. (YoY%)

225 199 (-21%)

'22

'21

<$400K

-53%

$400K - $699K

-9%

$700K - $999K

-35%

$1M+

73%

150 112 (+22%) 112 (-20%) 75

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Price Range

By Submarket

Rolling Last 12 Months (YoY%)

 Contracted activity was lower across submarkets in Q1 YoY  Northern submarkets experienced the largest declines for the quarter  Contracted homes remain higher than prepandemic levels for the rolling last 12 months, other than in the Central West

Northwest

Northeast

Central West

Central East

Southwest

Southeast

250

200

Jan. – Mar. (YoY%)

157 (-16%)

150

'22

'21

Northwest

-30%

Northeast

-52%

Central West

-17%

Central East

-9%

Southwest

-2%

Southeast

-23%

100

112 (-15%) 90 (-13%) 80 (-6%)

54 (-10%)

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Submarket

133 (+3%)

CLOSED HOME SALES By Price Range

Rolling Last 12 Months (YoY%)

 Closed homes were generally flat for the quarter (down only 1%)  Closing activity continued to grow for homes priced $400 – $700K and $1M+  More declines expected at <$400K given low contract activity at this price range

375

 Closed homes likely to continue declines with lower listings and few contracts

300

Jan. – Mar. (YoY%)

<$400K

$400K – $699K

$700K – $999K

$1M+

281 (+15%) 232 (-6%)

225

'22

'21

<$400K

-30%

$400K - $699K

44%

$700K - $999K

-14%

$1M+

15%

150 128 (-5%) 93 (+31%)

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Price Range

By Submarket

Rolling Last 12 Months (YoY%)

 Closed activity was mixed across submarkets in Q1  Meaningful rebound in closed homes in the Southwest for the quarter after a large decline during the prior 12 months  Northeast submarket is up dramatically over the last 12 months, despite the drop this quarter on low volume

Northwest

Northeast

Central West

Central East

Southwest

Southeast

250

200 168 (-1%)

Jan. – Mar. (YoY%)

150

'22

'21

Northwest

-8%

Northeast

-36%

Central West

Central East

-4%

Southwest

31%

Southeast

100

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Submarket

133 (+6%) 118 (-2%) 98 (+3%) 82 (-2%) 66 (+43%)

NEW CONSTRUCTION Permit Activity

Rolling Last 12 Months (YoY%)

 Approx. 1,175 new home permits since 2010  New construction activity recovered significantly in 2021 and now leveling off  New home construction has returned to prepandemic levels; permits are higher

New Home Permits Issued

Demo Permits Issued

160

 Anticipate more new construction as demos remain above builds over the last 12 months 120

Jan. – Mar. (YoY%) 21

80 21

14 12

10 0

'19

'20

'21

New Home Permits Issued

'22

'21 '22

22 20

'15 '16 '17 '18 '19 '20

'09 '10 '11 '12 '13 '14

103 (+21%) 92 (+19%)

Demo Permits Issued 14

REMODELING Permit Activity

Rolling Last 12 Months (YoY%)

 Elmhurst homes are often added to and rehabbed given a lack of open lots

Addition Permits Issued Interior Remodel Permits Issued

 Interior remodels increased significantly during the pandemic; addition permits declining some (within upper/lower range)  Improvement activity expected to continue with market constraining home sales

171 (+33%) 150

Jan – Mar. (YoY)

100

'19

'20

10 '21

31 50 37 (-26%)

3 '22

Addition Permits Issued Interior Remodel Permits Issued

'21 '22

'15 '16 '17 '18 '19 '20

'09 '10 '11 '12 '13 '14

50 40 30 20 10 0

200

Contributed By:

FICO SCORES John Noldan

Getting Financially Ready to Buy a Home  FICO score is a computer-generated number that analyzes your past and current credit history and spending habits, and rates your ability to repay future debts; the name FICO is an acronym for Fair Isaac and Company

Things to Avoid When Buying a Home

 Typical FICO score is based on the following factors:  Timely credit payments

Buying a car

Opening or closing a credit card

Changing jobs

Buying large appliances

Switching banks

Moving lots of money around

Falling behind on bills

Co-signing on a loan

 Amount of debt owed  Number of credit accounts currently open  Number of credit inquires (a credit inquiry is made when you apply for a new credit card or loan)  Credit score affects a loan’s interest rate; generally, a higher score earns a lower interest rate and more loan options

Source: https://www.consumerfinance.gov/consumer-tools/educator-tools/adult-financial-education/tools-and-resources/#credit-reports-and-scores Guaranteed Rate does not provide credit repair or credit counseling services. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. (20210401-80152)

HIGHLIGHTED SALE Closed in Q1 2022 – Southwest Elmhurst

Sold By: Kelly Stetler $1,605,000 SALE PRICE

100%+ SALE / LIST PRICE

$336 PRICE PER SQ. FT.

5 / 6.1 BEDS / BATHS

4,779 SQ. FT.

Beautiful luxury new construction home on wide-lot just steps from new Lincoln Elementary; highest Elmhurst sale price in three months preceding sale 17

HIGHLIGHTED SALE Closed in Q1 2022 – Southeast Elmhurst

Sold By: Jill Jarvis $739,000 SALE PRICE

~100% SALE / LIST PRICE

$246 PRICE PER SQ. FT.

5/3 BEDS / BATHS

3,007 SQ. FT.

Fully rehabbed home with unique features near Jefferson Elementary and the Prairie Path; sold quickly in private network before publicly marketing 18

HIGHLIGHTED SALE Closed in Q1 2022 – Southwest Elmhurst

Sold By: Kelly Stetler $510,000 SALE PRICE

100%+ SALE / LIST PRICE

$238 PRICE PER SQ. FT.

3/3 BEDS / BATHS

2,142 SQ. FT.

Nicely rehabbed home previously marketed and priced too high by an out-of-area agent; optimized selling strategy to drive multiple offers and above-list price sale 19

HOME INVENTORY By Price Range

Mar. Quarter End (YoY%)

 Available homes declined 30% overall and remain at 15+ year lows  Inventory is particularly limited for homes priced <$400K and $700K – $1M  Homes at $1M+ represent 40%+ of inventory

<$400K

$400K – $699K

$700K – $999K

$1M+

200

 Scarce inventory expected to continue driving “seller’s market” conditions 150

Mar. Trends (Relative%) 100 22%

27%

17% 24%

27%

36%

31%

26%

24%

26%

'18 '19 <$400K $700K – $999K

'20

75% 50% 25% 0%

20%

32%

21%

16% 36% 15%

44% 16%

30% 11%

'21 '22 $400K – $699K $1M+

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

100%

28 (-3%) 19 (-42%) 10 (-33%) 7 (-50%) 20

By Submarket

Mar. Quarter End (YoY%)

 Home inventory is meaningfully lower, particularly in the Northeast and South  Central West is the only area that has increased YoY  Central West and Northwest comprise more relative inventory compared prepandemic years

Northwest

Northeast

Central West

Central East

Southwest

Southeast

100

Mar. Trends (Relative%) 50

75%

12% 19%

50%

31%

25%

15% 6% 16%

'18 Northwest Central East

14% 23% 21% 22% 7% 14%

15%

16% 23%

29%

22% 19% 5% 14%

16% 17% 5% 18%

'19 '20 Northeast Southwest

8% 20% 21% 28% 2% 21%

'21 '22 Central West Southeast

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

100%

17 (+21%) 13 (0%) 13 (-13%) 12(-50%) 5 (-58%) 1 (-75%) 21

CONTRACT TIME By Price Range

Rolling Last 12 Months (YoY%)

 Days between listing date and contract signing have been low (mostly less than a month) for several years  Homes went under contract often within ~2 weeks in Q1, except over $1M was 3+ weeks  Expect contract times to remain short given buyer demand and limited inventory

<$400K

$400K – $699K

$700K – $999K

$1M+

225

150

Price Range

'22

'21

<$400K

-57%

$400K - $699K

$700K - $999K

-11%

$1M+

-53%

12 (-29%) 10 (-33%) 9 (-78%) 9 (-36%)

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Jan. – Mar. (YoY%)

By Submarket

Rolling Last 12 Months (YoY%)

 Contract time in Q1 remained fast although the Northwest and Southeast saw meaningful increases from a low number of days in the prior quarter  Buyers are reviewing new listings quickly  Homes on the market for 3 weeks or longer are likely overpriced or have other factors impacting time / interest

Jan. – Mar. (YoY%)

Northwest

Northeast

Central West

Central East

Southwest

Southeast

125

100

'22

'21

Northwest

115%

Northeast

-45%

Central West

-9%

Central East

-74%

Southwest

-71%

Southeast

53%

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Submarket

16 (-11%) 14 (-42%) 10 (-33%) 10 (-17%) 9 (-44%) 9 (-40%) 23

Contributed By:

APPRAISAL ISSUES If the Appraisal Comes in Low Appraisals are a normal part of the purchase/sale process, and they protect the buyer’s lender from loaning too much money. While they may seem like a formality, bidding wars in today’s real estate market can drive prices beyond a home’s true value. If the contract includes an appraisal contingency and the appraisal comes in low, there are a few options for the buyer and seller, respectively:

Appeal the Appraisal

Buyer can ask their lender to challenge the appraisal if they believe the appraiser used incorrect information or the wrong comparable sales as a basis

Bring Additional Cash to Closing

Buyer can increase their down payment to make up the difference; lenders are focused on the loan to appraised value ratio, not necessarily the purchase price

Shift Some Down Payment

If the buyer was planning a larger than needed down payment, use some of this cash to make up the difference; however, more relative debt could change the financing terms and require private mortgage insurance (more monthly cost)

Renegotiate the Purchase Price

Buyer may ask the seller to reduce the price to the appraised value; seller does not have to agree and may walk away from the deal

Cancel the Contract

An unfortunate circumstance for both parties, buyer could simply walk away from the deal without attempting to remedy the situation

In highly competitive situations, some buyers are waiving a portion of any appraisal gap (i.e., buying with an appraisal below the price) or offering no appraisal contingency (cash buyers) 24

Contributed By:

ROOFING REVIEW Determining if Your Roof Needs Repair or Replacement Roofing systems and products installed in the 80’s, 90’s and early 00’s are now likely nearing the end of their expected product lifespan or are well beyond it. Look out for these concerns at least annually:

Missing, Cracked or Curling Shingles

Areas may have suffered storm damage, or your shingles could be at the end of their useful life

Excessive Energy Costs

Improper attic ventilation can cause your heating and air conditioning to run up your bills. Proper ventilation also reduces moisture and mold growth

Dark, Stained or Decaying Areas

Dark streaks can be caused by black algae. Patchy dark or decaying areas can result from shingle breakdown or excessive moisture

Stains on Interior Ceilings and Walls or Mold and Mildew Growth

These issues may be caused by a leak in your roofing system, allowing water to enter your home and cause damage. Ceiling stains and mold can have several causes, from roof leaks to plumbing issues

Leakage in the Attic After a Driving Rain

Leaky or inadequate shingle underlayment or deteriorated flashing are common causes of roof leaks. Sometimes these issues can be repaired and do not require a full roof system replacement 25

PRICE DISCOUNTS By Price Range

Rolling Last 12 Months (YoY%)

 Sales closed at 98% – 99% of original list price for Q1 as homes continued to sell for near and above ask  Multiple offers should be expected for properties priced fairly and in good condition  Price discounts are narrow and expected to remain that way near-term

<$400K

$400K – $699K

$700K – $999K

$1M+

100% 98% (+1%) 98% (+1%) 98% (+2%) 97% (+1%) 95%

Price Range

'22

'21

<$400K

98%

96%

$400K - $699K

98%

$700K - $999K

99%

98%

$1M+

98%

97%

90%

85%

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Jan. – Mar. (YoY%)

By Submarket

Rolling Last 12 Months (YoY%)

 Price discounts have been mostly consistent across submarkets  Limited differences reflect appeal of Elmhurst overall as well as each submarket  Discounts remain tight across submarkets

Northwest

Northeast

Central West

Central East

Southwest

Southeast

100% 98% (+2%) 98% (+1%) 98% (+3%) 98% (+1%) 97% (+1%) 97% (+1%)

 Buyers and sellers mostly meeting at 1% – 2% discount to original price 95%

Submarket

'22

'21

Northwest

98%

Northeast

97%

Central West

98%

97%

Central East

99%

97%

Southwest

99%

96%

Southeast

98%

97%

90%

85%

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Jan. – Mar. (YoY%)

PRICE PER SQ. FT. By Price Range

Rolling Last 12 Months (YoY%)

 Price per sq. ft. trend was higher across all prices ranges in Q1  All price ranges set new records over the last 12 months, except $1M+ which is a few dollars per sq. ft. below prior highs  Pricing continues to be strong based on low home inventory and continued buyer demand

<$400K

$400K – $699K

$700K – $999K

$1M+

$350

$311 (+1%)

$300

Jan. – Mar. (YoY%)

$256 (+6%) $252 (+1%)

$250 '22

'21

<$400K

$252

$236

$400K - $699K

$265

$257

$700K - $999K

$261

$239

$1M+

$330

$309

$242 (+6%) $200

$150

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Price Range

By Submarket

Rolling Last 12 Months (YoY%)

 Submarkets saw higher prices for the quarter with all areas increasing, except in Southern Elmhurst (flat / down slightly)  Northeast experienced a dramatic increase in Q1, but remained the only area lower over the last 12 months  North Elmhurst submarkets remain on the lower end of relative price per sq. ft. over the last 12 months

Northwest

Northeast

Central West

Central East

Southwest

Southeast

$300 $275 (+10%) $275 (+4%) $268 (+8%) $264 (+1%)

$250

$236 (+8%)

Jan. – Mar. (YoY%)

$212 (-2%) $200

'22

'21

Northwest

$230

$223

Northeast

$274

$190

44%

Central West

$269

$248

Central East

$295

$268

10%

Southwest

$273

$284

-4%

Southeast

$259

$260

$150

$100

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Submarket

CLOSED SALE PRICES By Submarket  Sale prices were mixed during Q1 with a wide range of movement (these values are influenced by the size of the homes sold)  Central West price change of ~90% is an anomaly for the quarter given lower price sales for the same period last year  Limited homes available and new / updated homes expected to push prices higher

Rolling Last 12 Months (YoY%) Northwest

Northeast

Central West

Central East

Southwest

Southeast

$700K $600K

$555 K (+9%) $500K

Jan. – Mar. (YoY%)

$650K (+10%) $640 K (+15%) $493K (-8%) $464K (-1%)

$400K '22

'21

Northwest

$435K

$573K

-24%

Northeast

$340K

$309K

10%

Central West

$758K

$399K

90%

Central East

$567K

$555K

Southwest

$488K

$495K

-2%

Southeast

$555K

$800K

-31%

$355 K (+15%) $300K $200K $100K

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22

Submarket

COMPARING HOME TYPES Analyzing Elmhurst Home Types for Q1 2022

Home Type

Single Family

Town Houses

Condos

New Listings

206

Contracted Homes

166

Closed Homes

124

Home Inventory

Contract Time

13 days

34 days

44 days

Price Discounts

98.2%

98.3%

Price per. Sq. Ft.

$263

$211

$193

Closed Sale Price

$497K

$375K

$166K 31

SEEN AROUND ELMHURST Our Recent Community Involvement

JOIN US FOR SOME FUN Elmhurst Supported Events in Q2 2022

Saturday, April 30 and Sunday, May 1 (10am – 5pm)

Wednesday, June 22 (9am – 11am)

Presenting Sponsor

Event Sponsor

Monday, May 23 (12pm Shotgun Start, 5pm Dinner) Arrowhead Golf Course (Wheaton)

Museum Day Sunday, May 15 (1pm – 5pm) Event Supporter

Yeti Giveaway Sponsor

COMPARING SUBURBS Analyzing Western Suburb Markets

Suburb

Median Price

Q1 YoY%

Price / Sq. Ft.

Q1 YoY% Contract Time Q1 YoY%

Clarendon Hills

$720K

31%

$281

10%

-67%

Downers Grove

$445K

11%

$233

14%

-25%

Elmhurst

$497K

$263

-35%

Glen Ellyn

$508K

12%

$238

10%

-33%

Hinsdale

$1,060K

19%

$283

-31%

La Grange

$535K

-5%

$254

-50%

Lombard

$349K

12%

$216

17%

-19%

Oak Brook

$800K

$220

-15%

Western Springs

$600K

-11%

$312

13%

15%

Wheaton

$423K

$217

15% 34

OUR CONTRIBUTORS Special Thanks to Our Contributors

Jessica Fese – Administrator Feze Roofing

John Noldan – EVP, Mortgage Lending Guaranteed Rate

630.530.5944 jessica@fezeroofing.com @fezeroofing

630.290.6251 jnoldan@rate.com @johnnoldan_guaranteedrate NMLS License #2611; NMLS #193680

Themis Katris – Managing Partner The Katris Law Group

Michelle Polay – Owner & Lead Designer Polay Interiors

708.351.1199 tk@katrislaw.com @themi_the_closer

630.833.2331 michelle@polayinteriors.com @polayinteriors 35

www.compass.com

Compass is a licensed real estate broker and abides by federal, state and local equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. Sources include Midwest Real Estate Data LLC and the Elmhurst Community Development department. This is not intended to solicit property already listed.

Elmhurst Office 103 Haven Road Elmhurst, IL 60126 630.750.9551 kelly.stetler@compass.com www.kellystetlerrealestate.com