Q4 2024 GLEN ELLYN
LOCAL REAL ESTATE GUIDE
METHODOLOGY
Overview of Terms and Glen Ellyn Submarkets
CLOSED:closed transaction reflecting the final sales price (does not include any seller credits)
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
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 median price to the median sq. footage of a closed transaction as a relative price measure
NORTHWEST
(West of Main St. / North of Pennsylvania Ave. to St. Charles Rd.)
NORTHEAST
CENTRAL WEST
(West of Park Blvd. / South of Pennsylvania Ave. to Roosevelt Rd.)
(East of Main St. / North of Crescent Blvd. to St. Charles Rd. )
CENTRAL EAST
(East of Park Blvd. / South of Crescent Blvd. to Roosevelt Rd.
SOUTH
(South of Roosevelt Rd.)
MARKET SUMMARY
“Seller’s Market” Remains with Increasing Market Activity and More Inventory
Available Homes
“Seller’s market” continues, but home inventory bounced off historic lows (finally) at year end
(Q4) Mostly a week or less; homes priced in the middle of the market ($400K –$1M) were a little longer
Many homes selling around asking price; some negotiability in certain areas and price ranges
Prices showed continued increasesyear-overyear, but are a little below late summer highs
NEW LISTINGS
By Price Range
New listings jumped 45% in Q4 from a low base last year; all prices ranges were higher ($1M+ more than doubled)
October increased nearly 50%, November was up almost 25% and December climbed 80%+
More listings than anticipated going into year end; positive signal of activity to come
Rolling Last 12 Months (YoY%)
Range'24'23%
By Submarket
Q4 experienced mixed listing activity across submarkets (2 lower / 2 higher / 1 flat); small changes driving high percentage moves
Central West doubled for the quarter and turned positive over the last 12 months; South up 90%+ during the past year
Northeast was flat in Q4 with the lowest listing activity (also over the last 12 months)
Oct. –Dec. (YoY%)
Rolling Last 12 Months (YoY%)
Northwest Northeast Central West Central East South
CONTRACTED HOMES
By Price Range
Contracted homes increased almost 25% for the quarter; only homes priced $700K –$1M showed a contract decline
Contracts increased nearly 50% in October, were up over 30% in November and then slipped almost 20% in December Contract activity likely to pick up with more listings and inventory increasing
Range'24'23%
151136%
By Submarket
Glen Ellyn submarkets were mixed in Q4 (3 higher / 2 lower); Northeast and Central West were up meaningfully
Northwest had a particularly soft quarter and is now down 20%+ during the past 12 months (most of any area)
Central submarkets showed 25+ more contracts than other areas over the last 12 months
Oct. –Dec. (YoY%)
Rolling Last 12 Months (YoY%)
Northwest Northeast Central West
Central East South
CLOSED HOMES
By
Price Range
Closed homes decreased nearly 5% in Q4; significant increase in homes priced $1M+ was not enough to fully offset other declines
October closings fell by more than 45% before a November increase of 15% and jump in December (60%+)
Closings should recover some with more listings, contracts and home inventory
Oct. –Dec. (YoY%)
Range'24'23%
By Submarket
Glen Ellyn submarkets were mixed during the quarter (3 higher / 2 lower)
Central East closings were nearly cut in half for the quarter (also lower listings and contracts in this area during the timeframe)
Northeast and South showed increases in Q4 and over the last 12 months
Northwest Northeast Central West Central East South
HOME INVENTORY
By
Price Range
Available homes increased nearly 25% at the end of Q4 from last year; all the increase in homes was below $700K
Homes priced $400K –$700K represent almost 60% of inventory; no homes were available priced $700K –$1M
Scarce inventory expected to continue driving “seller’s market” conditions
Dec. Trends (Relative%)
Dec. Quarter End (YoY%)
By Submarket
Home inventory is down meaningfully across Glen Ellyn submarkets; South area increased by 4 homes from last year
Very limited home availability in all areas (half dozen or fewer in each submarket)
About half of available inventory on the geographic edges of Glen Ellyn (outside of the submarket area definitions)
Northwest Northeast Central West Central East South
Northwest Northeast Central West Central East South
CONTRACT TIME
By Price Range
Days between listing date and contract signing have been low for a couple years (about a week or less across price ranges)
Homes priced in the middle of the market ($400K –$1M) took more days to contract overall (both 10+ days) in Q4 Expect contract times to remain short with limited home availability
By Submarket
Contract times were relatively quick in most areas during Q4; Central West and South extended beyond a week
Northeast is the only area longer over the last 12 months (flat in the quarter)
Homes on the market for more than two weeks could be overpriced or have other factors impacting time / interest
Northwest Northeast Central West Central East South
PRICE DISCOUNTS
By Price Range
Price discounts were limited in Q4 with most homes selling around asking price (below $700K had some negotiability)
Homes below $400K are still selling at a small discount over the last 12 months
Price discounts expected to remain narrow given limited home inventory
Oct. –Dec. (YoY%)
Price Range'24'23%
Rolling Last 12 Months (YoY%)
By Submarket
Glen Ellyn submarket price discounts were limited during the quarter; Eastern areas showed full price closed sales
South showed a large downward change from a spike last year (on limited closings)
Northwest was the only submarket below asking price over the last 12 months (even after closing the discount more in Q4)
Oct. –Dec. (YoY%)
Rolling Last 12 Months (YoY%)
Northwest Northeast Central West Central East South
PRICE PER SQ. FT.
By Price Range Rolling Last 12 Months (YoY%)
Price per sq. ft. increased 5%+ overall in the quarter; homes priced under $700K showed declines and those above saw increases
Homes priced $400K –$700K flattened over the last 12 months with the decline in Q4
Pricing remains strong, but has moderated from late summer (common seasonally)
Range'24'23%
By Submarket
Glen Ellyn submarkets were mostly up for the quarter (South flat / slight decline)
Northeast saw a significant increase for the quarter (only 7 closings) and moved beyond $375K per sq. ft. over the last 12 months
All areas at or near records over the last 12 months; South submarket now the only area below $300 per sq. ft.
Rolling Last 12 Months (YoY%)
CLOSED SALE PRICES
By Submarket
Closed sale prices generally show more variability than relative prices (impacted by mix and number of closings in each area)
Northeast saw a substantial increase in Q4 and over the last 12 months (consistent with relative prices); this should normalize Overall prices mostly trended in line with relative sale prices (despite more variation)
Rolling Last 12 Months (YoY%)
Northwest Northeast Central West Central East South
CLOSED SALE VOLUME
By Submarket Rolling Last 12 Months (YoY%)
Overall closed sale volume for single-family houses increased 10% for the quarter but was mostly flat over the last 12 months
Northeast submarket is now up 90% over the last 12 months after another strong quarter; South is bouncing off low sale volumes
Central submarkets remain the largest closed sale volume areas in Glen Ellyn
Oct. –Dec. (YoY%)
Northwest Northeast Central West
Central East South
COMPARING HOME TYPES
Analyzing Glen Ellyn Home Types for Q4 2024
COMPARING SUBURBS
