What have home prices been doing in Glen Ellyn this year?
Median home prices in Glen Ellyn IL have remained stable over the last few months. We’re currently seeing a median list price of $439,000. The chart below is a good comparison of median list prices vs. median sales prices in Glen Ellyn IL for the last year. As you can see, home buyers and sellers were fairly aligned all year.
Are home prices in Glen Ellyn IL going up or down?
Home prices in Glen Ellyn dipped 1.6% in May over April. The median sales price right now is $363,000. Year-over-year, we see a 4.2% decrease. Glen Ellyn homes are still a good investment as prices are expected to climb as in neighboring communities.
Is Glen Ellyn in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in Glen Ellyn is dropping, currently at 4.1 months. Anything between 3-6 months could be considered a stable market so we’re right in the middle of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in Glen Ellyn right now?
A lot of Glen Ellyn homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties fall in Glen Ellyn. In May, 94% of homes for sale were traditional sales. There were only 7 foreclosures on the market, the lowest number since September 2008. Short sales are on the decline also with the lowest numbers in recent history. Home prices in Glen Ellyn IL are not being affected by these factors.
How long is it taking to sell a home in Glen Ellyn right now?
The median market time for a home in Glen Ellyn is at 40 days. This number has been dropping over the last several months. This could indicate a strengthening buyer pool out there.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Glen Ellyn IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Glen Ellyn home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our Glen Ellyn Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.