Our initial Market update of the year, in January, speculated that we could potentially see rates dip below 6% and inventory steadily rise. Unfortunately, due to the conflict in the Mideast and subsequent increase in inflation, rates have gone up, not down, in the first quarter of 2026.
Much of our optimism for 2026 was predicated on the rates dipping below 6% and staying there. With that news, we are still very much stuck in a familiar cycle. Prices in Elmhurst, and much of the Chicagoland area, have continued to increase and inventory is still at historically low levels.
ELMHURST AVERAGE SALES PRICE
Elmhurst average sales price is $800k, an 8% increase over the 12 months.
ELMHURST MONTHS SUPPLY OF HOMES
As mentioned above, the Elmhurst inventory of homes for sale sits below two months. Elmhurst has been stuck at sub-months of inventory for over four years. (A healthy market is considered to be when inventory is between five to six months.)
ELMHURST HOMES FOR SALE
We have seen a slight increase in homes for sale in Elmhurst.
WEEKLY AVERAGE MORTGAGE RATES
Below is shows the weekly average mortgage rates in the U.S over the last 12 months.
Your local LW Reedy agent closely monitors the local real estate market and economic news affecting interest rates. Questions about how interest rates and the real estate market impact your housing plans? Contact us today.
