Glen Ellyn Real Estate Guide (Q4 2024)

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

NORTHEAST NORTHWEST (West of Main St. / North of Pennsylvania Ave. to St. Charles Rd.)

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.)

PRICE PER SQ. FT: ratio of the median price to the median sq. footage of a closed transaction as a relative price measure Note: All figures represent detached single-family homes unless otherwise specified. Price range data based on the village of Glen Ellyn. Submarket figures based on the approximate areas identified on map above and do not include every home within village limits.

2

MARKET SUMMARY “Seller’s Market” Remains with Increasing Market Activity and More Inventory

Closed Homes (Q4)

Higher Activity

New Home Listings (Q4)

45%

Contracted Homes (Q4)

More Available Homes

Home Inventory (December)

24%

“Seller’s market” continues, but home inventory bounced off historic lows (finally) at year end

Short Market Times

List to Contract Days (Q4)

Mostly a week or less; homes priced in the middle of the market ($400K – $1M) were a little longer

Limited Price Discounts

Sale Price Discounts (Q4)

Many homes selling around asking price; some negotiability in certain areas and price ranges

Strong Sale Prices

Sale Price / Price Per Sq. Ft. (Q4)

Prices showed continued increases year-overyear, but are a little below late summer highs

23%

4%

3

NEW LISTINGS

By Price Range

Rolling Last 12 Months (YoY%)

 New listings jumped 45% in Q4 from a low base last year; all prices ranges were higher ($1M+ more than doubled)

<$400K $700K – $999K

 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

$400K – $699K $1M+

525 450 375

Oct. – Dec. (YoY%)

300 243 (+21%)

225

'24

'23

%

<$400K

19

15

27%

150

$400K - $699K

51

34

50%

75

$700K - $999K

14

13

8%

$1M+

16

7

129%

0

82 (+28%) 78 (-11%) 69 (-29%) '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Price Range

4

By Submarket

Rolling Last 12 Months (YoY%)

 Q4 experienced mixed listing activity across submarkets (2 lower / 2 higher / 1 flat); small changes driving high percentage moves

Northwest Central East

 Central West doubled for the quarter and turned positive over the last 12 months; South up 90%+ during the past year

300

 Northeast was flat in Q4 with the lowest listing activity (also over the last 12 months)

250

Northeast South

Central West

200

Oct. – Dec. (YoY%)

150 '24

'23

%

Northwest

7

8

-13%

Northeast

6

6

0%

Central West

23

11

109%

Central East

13

16

-19%

South

10

6

67%

100

94 (+1%) 79 (-12%) 58 (-21%) 48 (+92%) 29 (-9%)

50 0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

5

CONTRACTED HOMES

By Price Range

Rolling Last 12 Months (YoY%)

 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

<$400K $700K – $999K

$400K – $699K $1M+

350 300 250

Oct. – Dec. (YoY%)

200 159 (-5%)

150

'24

'23

%

<$400K

15

11

36%

100

$400K - $699K

31

27

15%

50

$700K - $999K

11

12

-8%

$1M+

12

6

100%

0

62 (-10%) 54 (-37%) 50 (+61%) '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Price Range

6

By Submarket

Rolling Last 12 Months (YoY%)

 Glen Ellyn submarkets were mixed in Q4 (3 higher / 2 lower); Northeast and Central West were up meaningfully

Northwest Central East

 Northwest had a particularly soft quarter and is now down 20%+ during the past 12 months (most of any area)

200

 Central submarkets showed 25+ more contracts than other areas over the last 12 months

150

Northeast South

Central West

Oct. – Dec. (YoY%) 100 '24

'23

%

Northwest

5

9

-44%

Northeast

7

4

75%

Central West

16

9

78%

Central East

10

13

-23%

South

6

5

20%

65 (-11%) 64 (-11%)

50

0

38 (-22%) 27 (+42%) 27 (+17%) '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

7

CLOSED HOMES

By Price Range

Rolling Last 12 Months (YoY%)

 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

<$400K $700K – $999K

$400K – $699K $1M+

350 300 250

Oct. – Dec. (YoY%)

200

'24

'23

%

<$400K

13

14

-7%

$400K - $699K

29

34

-15%

$700K - $999K

15

19

-21%

$1M+

16

9

78%

100 70 (-3%) 51 (-39%) 46 (+35%)

50 0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Price Range

160 (-6%)

150

8

By Submarket

Rolling Last 12 Months (YoY%)

 Glen Ellyn submarkets were mixed during the quarter (3 higher / 2 lower)

Northwest Central East

 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

Northeast South

Central West

200

150

Oct. – Dec. (YoY%) 100 '24

'23

%

Northwest

7

8

-13%

Northeast

7

5

40%

Central West

15

12

25%

Central East

13

24

-46%

South

7

3

133%

62 (-18%) 61 (-23%)

50

0

39 (-24%) 29 (+16%) 27 (+59%) '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

9

HOME INVENTORY

By Price Range

Dec. Quarter End (YoY%)

 Available homes increased nearly 25% at the end of Q4 from last year; all the increase in homes was below $700K

<$400K $700K – $999K

 Homes priced $400K – $700K represent almost 60% of inventory; no homes were available priced $700K – $1M

120

 Scarce inventory expected to continue driving “seller’s market” conditions

100

Dec. Trends (Relative%)

80 60

15% 13%

43%

47%

19%

58%

21%

26%

29% 10%

19%

'20 '21 <$400K $700K – $999K

'22

75% 50% 25% 0%

24%

25%

23%

19%

32%

36%

21%

23%

40

'23 '24 $400K – $699K $1M+

20

15 (+150%)

0

6 (-33%) 5 (+150%) 0 (-100%)

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

100%

$400K – $699K $1M+

10

By Submarket

Dec. Quarter End (YoY%)

 Home inventory is down meaningfully across Glen Ellyn submarkets; South area increased by 4 homes from last year

Northwest Central East

 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)

Dec. Trends (Relative%)

75%

0%

60 50 40

33%

12% 24%

13% 28%

27%

34%

35%

10% 13%

12% 18%

19% 9% 31%

27% 13% 20%

'21 '22 Northeast South

'23

'20 Northwest Central East

13% 46% 31% 15% 8%

'24 Central West

20 10 0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

10%

25%

Central West

30

100% 50%

Northeast South

6 (+200%) 4 (0%) 2 (-50%) 1 (-67%) 0 (-100%) 11

CONTRACT TIME

By Price Range

Rolling Last 12 Months (YoY%)

 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

<$400K $700K – $999K

$400K – $699K $1M+

200 175 150 125

Oct. – Dec. (YoY%)

100 Price Range

'24

'23

%

75

<$400K

5

4

25%

50

$400K - $699K

13

12

8%

$700K - $999K

11

11

0%

$1M+

4

2

100%

0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

25

8 (+60%) 6 (-25%) 6 (+20%) 5 (-17%) 12

By Submarket

Rolling Last 12 Months (YoY%)

 Contract times were relatively quick in most areas during Q4; Central West and South extended beyond a week

Northwest Central East

 Northeast is the only area longer over the last 12 months (flat in the quarter)

100

Oct. – Dec. (YoY%)

75

'23

%

Northwest

4

24

-83%

Northeast

4

4

0%

Central West

8

6

33%

Central East

6

12

-50%

South

9

4

125%

50

25

0

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

'24

Central West

125

 Homes on the market for more than two weeks could be overpriced or have other factors impacting time / interest

Submarket

Northeast South

9 (-18%) 8 (+100%) 6 (-33%) 6 (-14%) 5 (-17%) 13

PRICE DISCOUNTS

By Price Range

Rolling Last 12 Months (YoY%)

 Price discounts were limited in Q4 with most homes selling around asking price (below $700K had some negotiability)

<$400K $700K – $999K

 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

$400K – $699K $1M+

105% 101% (0%) 100% (0%) 100%(0%) 98% (-1%)

100% 95%

Oct. – Dec. (YoY%)

90% '24

'23

%

<$400K

99%

97%

2%

$400K - $699K

97%

98%

-1%

$700K - $999K

100%

100%

0%

$1M+

100%

97%

3%

85% 80% 75%

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Price Range

14

By Submarket

Rolling Last 12 Months (YoY%)

 Glen Ellyn submarket price discounts were limited during the quarter; Eastern areas showed full price closed sales

Northwest Central East

 South showed a large downward change from a spike last year (on limited closings)

100%

Oct. – Dec. (YoY%)

95%

'23

%

Northwest

98%

94%

4%

Northeast

100%

100%

0%

Central West

99%

97%

3%

Central East

100%

99%

1%

South

97%

106%

-9%

100% (0%) 100% (+2%) 100% (0%) 100% (0%) 99% (0%)

90%

85%

80%

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

'24

Central West

105%

 Northwest was the only submarket below asking price over the last 12 months (even after closing the discount more in Q4)

Submarket

Northeast South

15

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

<$400K $700K – $999K

 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)

$400K – $699K $1M+

$400 $368 (+5%) $350 $334 (+18%) $300

Oct. – Dec. (YoY%)

$256 (0%)

$250 '24

'23

%

<$400K

$217

$231

-6%

$400K - $699K

$240

$253

-5%

$700K - $999K

$327

$275

19%

$1M+

$391

$359

9%

$222 (+5%) $200 $150 $100

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Price Range

16

By Submarket

Rolling Last 12 Months (YoY%)

 Glen Ellyn submarkets were mostly up for the quarter (South flat / slight decline)

Northwest Central East

 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.

Northeast South

Central West

$400 $376 (+22%) $350

$344 (+14%) $327 (+13%) $301 (+15%)

$300

Oct. – Dec. (YoY%)

$250 '24

'23

%

Northwest

$263

$253

4%

Northeast

$433

$295

47%

Central West

$319

$274

16%

Central East

$372

$288

29%

South

$229

$231

-1%

$229 (+1%) $200 $150 $100

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

17

CLOSED SALE PRICES

By Submarket

Rolling Last 12 Months (YoY%)

 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)

Northwest Central East

Northeast South

Central West

$1,250 K $1,150 K

$1,150 K (+51%)

$1,050 K $950 K

Oct. – Dec. (YoY%)

$850 K $750 K

'24

'23

%

$650 $550 K

Northwest

$507K

$491K

3%

Northeast

$1.7M

$945K

79%

Central West

$775K

$587K

32%

Central East

$790K

$780K

1%

South

$565K

$480K

18%

$545 K (+17%) $529K (-7%)

$450 K $350 K $250 K

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

$711 K (+27%) $690 K (-8%)

18

CLOSED SALE VOLUME

By Submarket  Overall closed sale volume for single-family houses increased 10% for the quarter but was mostly flat over the last 12 months

Rolling Last 12 Months (YoY%) Northwest

Northeast

Central East

South

 Northeast submarket is now up 90% over the last 12 months after another strong quarter; South is bouncing off low sale volumes

$125M

 Central submarkets remain the largest closed sale volume areas in Glen Ellyn

$100M

Oct. – Dec. (YoY%)

Central West

$75M

'24

'23

%

Northwest

$5M

$4M

14%

Northeast

$11M

$5M

101%

Central West

$12M

$8M

47%

Central East

$11M

$19M

-41%

South

$5M

$1M

244%

$50M

$50 M (-17%) $46 M (-5%)

$25M

$32 M (+90%) $25 M (-22%) $17 M (+33%)

$0M

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

Submarket

19

COMPARING HOME TYPES Analyzing Glen Ellyn Home Types for Q4 2024

Home Type

Single-Family Houses

Town Houses

Condos

New Listings

100

45%

10

11%

21

19%

Contracted Homes

69

23%

7

40%

15

29%

Closed Homes

73

4%

11

57%

14

36%

Home Inventory

26

24%

4

33%

8

20%

Contract Time

9 days

10%

7 days

75%

11 days

83%

Price Discounts

99%

0%

97%

5%

100%

2%

Price per Sq. Ft.

$284

6%

$238

3%

$221

15%

Closed Sale Price

$611K

6%

$550K

42%

$253K

21% 20

COMPARING SUBURBS Analyzing Western Suburb Markets

Suburb

Median Price

Q4 YoY%

Price / Sq. Ft.

Q4 YoY% Contract Days Q4 YoY%

Clarendon Hills

$699K

36%

$280

-14%

9

-64%

Downers Grove

$491K

2%

$273

7%

13

30%

Elmhurst

$585K

6%

$306

5%

10

-23%

Glen Ellyn

$611K

6%

$284

6%

9

-10%

Hinsdale

$1.5M

11%

$327

5%

10

-71%

Lisle

$480K

17%

$230

6%

9

29%

Lombard

$385K

7%

$235

4%

7

-30%

Western Springs

$881K

17%

$365

10%

5

25%

Westmont

$417K

12%

$239

12%

7

-30%

Wheaton

$510K

1%

$267

11%

8

60%

21

Compass is a licensed real estate broker and abides by federal, state and local equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. Sources include Midwest Real Estate Data LLC. This is not intended to solicit property already listed. Closed Volume based on MLS market share, including off-market sales, from 1/1/24-12/31/24. #1 Compass Team in DuPage based on MLS Market Share, including off-market sales, all property types, from 1/1/24-12/31/24.

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