Local Market Update: May 2019

  • Mike McCurry
  • 05/17/19
We’re in the thick of buying and selling season. As the warm weather moves in and school dismisses for the summer, it signals a time of change for many families. Demand is high and the supply of homes for sale in the area is rapidly increasing to meet that demand.
 
In general, the health of the real estate market is correlative to a wide variety of factors not just limited to supply and demand. As a broker with 29 years of experience, I tend to evaluate the market frequently and on a very localized level. Having solid insights into the number of homes sold (demand) and number of homes on the market (supply), average sale price, median sold price, maximum sold price, and total volume sold generally gives me and my clients a good taste of what’s going on in that specific community’s real estate.
 
State of the Market: What’s happening locally…& how it compares to 2018:
 

In Clarendon Hills…

There are currently 74 homes listed for sale in Clarendon Hills.
 
So far this year (1/1/19-5/10/19), 28 homes have sold in Clarendon Hills. The average sales price of homes sold so far this year in Clarendon Hills is $639,684.
 
  • Number of single family homes sold in 2018:117
  • Median sold price in 2018:$600,000
  • Average sale price in 2018:$689,342
  • Maximum price sold in 2018: $1,717,500
  • Total volume sold in 2018: $80,653,019

In Hinsdale…

There are currently 263 homes listed for sale in Hinsdale.
 
So far this year (1/1/19-5/10/19), 90 homes have sold in Hinsdale. The average sales price of homes sold so far this year in Hinsdale is $1,120,767.
 
  • Number of single family homes sold in 2018:305
  • Median sold price in 2018: $974,000
  • Average sale price in 2018: $1,133,155
  • Maximum price sold in 2018: $3,795,000
  • Total volume sold in 2018:$345,612,370

In Western Springs…

There are currently 94 homes listed for sale in Western Springs.
 
So far this year (1/1/19-5/10/19), 56 homes have sold in Western Springs. The average sales price of homes sold so far this year in Western Springs is $658,733.
 
  • Number of single family homes sold in 2018:199
  • Median sold price in 2018: $600,000
  • Average sale price in 2018: $689,751
  • Maximum price sold in 2018: $1,925,000
  • Total volume sold in 2018:$137,412,990

In Westmont…

There are currently 60 homes listed for sale in Westmont.
 
So far this year (1/1/19-5/10/19), 59 homes have sold in Westmont. The average sales price of homes sold so far this year in Westmont is $333,545.
 
  • Number of single family homes sold in 2018:214
  • Median sold price in 2018: $311,500
  • Average sale price in 2018: $338,725
  • Maximum price sold in 2018: $742,500
  • Total volume sold in 2018:$72,487,240

In Oak Brook…

There are currently 93 homes listed for sale in Oak Brook.
 
So far this year (1/1/19-5/10/19), 15 homes have sold in Oak Brook. The average sales price of homes sold so far this year in Oak Brook is $906,835.
 
  • Number of single family homes sold in 2018:90
  • Median sold price in 2018: $840,000
  • Average sale price in 2018: $920,852
  • Maximum price sold in 2018: $2,350,000
  • Total volume sold in 2018:$82,876,718

In Willowbrook…

There are currently 56 homes listed for sale in Willowbrook.
 
So far this year (1/1/19-5/10/19), 21 homes have sold in Willowbrook. The average sales price of homes sold so far this year in Willowbrook is $489,971.
 
  • Number of single family homes sold in 2018:80
  • Median sold price in 2018: $438,250
  • Average sale price in 2018: $431,397
  • Maximum price sold in 2018: $845,000
  • Total volume sold in 2018:$34,511,791

In Burr Ridge…

There are currently 150 homes listed for sale in Burr Ridge.
 
So far this year (1/1/19-5/10/19), 48 homes have sold in Burr Ridge. The average sales price of homes sold so far this year in Burr Ridge is $804,911.
 
  • Number of single family homes sold in 2018:136
  • Median sold price in 2018: $650,000
  • Average sale price in 2018: $796,844
  • Maximum price sold in 2018: $3,356,000
  • Total volume sold in 2018:$108,370,780

So, What Does This Information and the Current Economy Tell Us?—my Predictions

Things are only just starting to heat up. Many of the areas have healthy levels of inventory (good for buyers) and the sales, as well as their prices, are trending upwards (good for sellers).
 

Ready to Take Advantage of This Favorable Market?

I would be honored to help you make a meaningful move.
 
Call us or complete the form online to request a complimentary, no-obligation pre-listing consultation.
 
 

Work With Us

Mike believes that people are at the heart of every real estate transaction. That’s why his approach to buying and selling always starts with developing a real relationship with his clients.

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