Real Estate Appraisal, Elmhurst, Illinois 60126

Elmhurst, Illinois 60126

The City of Elmhurst is located approximately 15 miles West of the Chicago "Loop" in suburban Dupage County. According to the 2000 census the population was 42,762. The city has a total area of 10.3 square miles.

Elmhurst is bordered by Bensenville to the north, Northlake, Berkeley and Hillside to the east, Oakbrook to the south, and Villa Park and Addison to the west.

There are a wide variety of housing styles in Elmhurst including the F.B. Henderson House by architect Frank Lloyd Wright.

According to data from the Northern Illinois MLS there were 400 sales of single family homes in 2007, down from 449 in 2006. The average sales price was $544,290.00, this was an increase from $537,389.00 in 2006. Marketing times were an average of 184 days on the market, up from the 2006 average of 119 days.

As of February 18, 2008 there are 422 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 12.66 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -10.91%, average sales prices up +1.28%, and the days on the market were up +54.62%. This market is oversupplied and the 422 active listings have already been on the market an average of 250 days.

The condo/townhouse market had 78 sales, down from the 115 properties that sold in 2006. Sales prices saw a increase with the average 2007 sales price at $298,285.00, compared to $290,547.00 in 2006. Marketing times were an average of 166 days on the market, an increase from the 2006 average of 83 days.

There are 136 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 20.92 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -32.17%, average sales price increased +2.66, the days on the market increased +100.00%. The 136 active MLS listings have already been on the market an average of 208 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Elmhurst, Il. 60126. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. For all your Dupage County appraisal needs contact Citywide.

To order an appraisal or to speak with an appraiser call 1-800-405-9718

City of Elmhurst Website

Geographic Area: Elmhurst, Du Page County Illinois 60126

Subject	Number	Percent	Subject	Number	Percent

Total housing units	17,157	100.0	OCCUPANTS PER ROOM
UNITS IN STRUCTURE			Occupied housing units	16,617	100.0
1-unit, detached	13,383	78.0	1.00 or less	16,317	98.2
1-unit, attached	518	3.0	1.01 to 1.50	244	1.5
2 units	293	1.7	1.51 or more	56	0.3
3 or 4 units	122	0.7
5 to 9 units	387	2.3	Specified owner-occupied units	12,539	100.0
10 to 19 units	361	2.1	VALUE
20 or more units	2,045	11.9	Less than $50,000	64	0.5
Mobile home	48	0.3	$50,000 to $99,999	125	1.0
Boat, RV, van, etc.	0	0.0	$100,000 to $149,999	1,398	11.1
			$150,000 to $199,000	4,239	33.8
YEAR STRUCTURE BUILT			$200,000 to $299,999	4,105	32.7
1999 to March 2000	301	1.8	$300,000 to $499,999	2,185	17.4
1995 to 1998	378	2.2	$500,000 to $999,999	396	3.2
1990 to 1994	685	4.0	$1,000,000 or more	27	0.2
1980 to 1989	761	4.4	Median (dollars)	209,000	(X)
1970 to 1979	1,849	10.8
1960 to 1969	2,527	14.7	MORTGAGE STATUS AND SELECTED
1940 to 1959	7,228	42.1	MONTHLY OWNER COSTS
1939 or earlier	3,428	20.0	With a mortgage	8,486	67.7
			Less than $300	0	0.0
ROOMS			$300 to $499	25	0.2
1 room	164	1.0	$500 to $699	185	1.5
2 rooms	430	2.5	$700 to $999	874	7.0
3 rooms	1,089	6.3	$1,000 to $1,499	2,993	23.9
4 rooms	1,506	8.8	$1,500 to $1,999	2,420	19.3
5 rooms	2,834	16.5	$2,000 or more	1,989	15.9
6 rooms	3,731	21.7	Median (dollars)	1,531	(X)
7 rooms	3,114	18.2	Not mortgaged	4,053	32.3
8 rooms	2,357	13.7	Median (dollars)	463	(X)
9 or more rooms	1,932	11.3
Median (rooms)	6.2	(X)	SELECTED MONTHLY OWNER COSTS
			AS A PERCENTAGE OF HOUSEHOLD
Occupied Housing Units	16,617	100.0	INCOME IN 1999
YEAR HOUSEHOLDER MOVED INTO UNIT			Less than 15 percent	4,539	36.2
1999 to March 2000	2,028	12.2	15 to 19 percent	2,297	18.3
1995 to 1998	4,014	24.2	20 to 24 percent	1,842	14.7
1990 to 1994	2,717	16.4	25 to 29 percent	1,292	10.3
1980 to 1989	3,019	18.2	30 to 34 percent	820	6.5
1970 to 1979	2,081	12.5	35 percent or more	1,727	13.8
1969 or earlier	2,758	16.6	Not computed	22	0.2

VEHICLES AVAILABLE			Specified renter-occupied units	2,798	100.0
None	992	6.0	GROSS RENT
1	4,983	30.0	Less than $200	75	2.7
2	8,068	48.6	$200 to $299	59	2.1
3 or more	2,574	15.5	$300 to $499	140	5.0
			$500 to $749	766	27.4
HOUSE HEATING FUEL			$750 to $999	690	24.7
Utility Gas	15,174	91.3	$1,000 to $1,499	796	28.4
Bottled, Tank, or LP gas	127	0.8	$1,500 or more	172	6.1
Electricity	1,185	7.1	No cash rent	100	3.6
Fuel oil, kerosene, etc.	13	0.1	Median (dollars)	842	(X)
Coal or coke	0	0.0
Wood	0	0.0	GROSS RENT AS A PERCENTAGE OF
Solar energy	0	0.0	HOUSEHOLD INCOME IN 1999
Other fuel	32	0.2	Less than 15 percent	611	21.8
No fuel used	86	0.5	15 to 19 percent	384	13.7
			20 to 24 percent	520	18.6
SELECTED CHARACTERISTICS			25 to 29 percent	261	9.3
Lacking complete plumbing facilities	31	0.2	30 to 34 percent	222	7.9
Lacking complete kitchen facilities	31	0.2	35 percent or more	649	23.2
No telephone service	39	0.2	Not computed	151	5.4

-Represent zero or rounds to zero. (X) Not applicable.
Source: U.S. Bureau of the Census, Census 2000. HOME Today's Inman News Today's Featured Community