Hinsdale Real Estate Guide (Q4 2023)

Q2 2022 Q4 2023

HINSDALE HINSDALE LOCAL REAL LOCAL REAL ESTATE GUIDE ESTATE GUIDE

METHODOLOGY Overview of Terms and Hinsdale 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

NORTHWEST (Rte. 83 to N. York Rd. / N. Garfield St. and Ogden Ave. to W. Chicago Ave.)

CENTRAL WEST (Rte. 83 to S. Garfield St. and W. Chicago Ave. to W. 55th St.)

NORTHEAST (Hwy. 294 to N. York Rd. / N. Garfield St. and Ogden Ave. to E. Chicago Ave.)

CENTRAL EAST Hwy. 294 to S. Garfield St. and E. Chicago Ave. to E. 55th St.

SOUTH (South of 55th St.)

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 Hinsdale. Submarket figures based on the approximate areas identified on map above and may not include every home within village limits.

2

MARKET SUMMARY “Seller’s Market” Continues into the New Year with Very Low Home Inventory

Closed Homes (Q4)

Lower Activity

New Home Listings (Q4)

34%

Contracted Homes (Q4)

Fewer Available Homes

Home Inventory (December)

26%

“Seller’s market” with 15+ year low of available homes this time of year

Short Market Times

List to Contract Days (Q4)

Mostly a month or less; Central East, South and homes priced $1.5M – $2M longer in the quarter

Narrow Price Discounts

Sale Price Discounts (Q4)

Homes selling at a small discount; $2M+ at full ask and Central East with more negotiability

Flattening Sale Prices

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

Relative prices flattened but overall prices up significantly; meaningful variability across town

31%

27%

3

NEW LISTINGS

By Price Range

Rolling Last 12 Months (YoY%)

 Listings declined nearly 35% in Q4 across price ranges, except over $3M; Homes from $1.5– $2M remain up over the last 12 months

<$500K $1.5M – $1.99M

 October and November were both down over 25% with December off more than 60%  Listing activity likely to pick up with seasonal trends, but remain low near-term

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

400

300

Oct. – Dec. (YoY%) '23

'22

%

<$500K

2

4

-50%

$500K - $999K

15

25

-40%

$1M - $1.49M

11

15

-27%

$1.5M - $1.99M

2

6

-67%

$2M - $2.99M

6

10

-40%

$3M+

6

4

50%

200

100

0

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

Price Range

101 (-38%) 82 (+26%) 80 (-37%) 45 (-25%) 24 (-11%) 13 (-59%) 4

By Submarket

Rolling Last 12 Months (YoY%)

 Only Central East submarket was higher during the quarter (only 2 listings); all other areas down meaningfully

Northwest Central East

 All Hinsdale areas continuing to show declines over the last 12 months (3 of 5 submarkets at historical lows)

300

 Overall declines have taken each submarket below 90 new listings in 2023

250

Oct. – Dec. (YoY%)

200

'23

'22

%

Northwest

12

15

-20%

Northeast

5

15

-67%

Central West

7

16

-56%

Central East

12

10

20%

South

3

5

-40%

Central West

150 88 (-38%) 83 (-10%) 61 (-24%) 57 (-25%) 26 (-42%)

100 50 0

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

Submarket

Northeast South

5

CONTRACTED HOMES

By Price Range

Rolling Last 12 Months (YoY%)

 Contracted homes were down more than 30% during the quarter center on homes priced under $1.5M  No contracts for homes <$500K during the quarter (often below land value); homes priced $2M – $3M still higher over the last 12 months

<$500K $1.5M – $1.99M

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

200

 Contracts will be limited until new listings begin to show increases 150

Oct. – Dec. (YoY%) '23

'22

%

<$500K

0

3

-100%

$500K - $999K

7

15

-53%

$1M - $1.49M

9

15

-40%

$1.5M - $1.99M

7

4

75%

$2M - $2.99M

4

4

0%

$3M+

2

1

100%

100

50

70 (-42%) 51 (-48%) 34 (-26%) 32 (+10%)

0

11 (-42%) 8 (-60%)

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

Price Range

6

By Submarket

Rolling Last 12 Months (YoY%)

 Contract activity was lower across all submarkets, except the Central East (up 2 houses) and South (flat)  Central West chart-topping increases began in 2019 and continued to mid-2021 before large declines

Northwest Central East

Northeast South

Central West

200

 South Hinsdale has consistently lower overall home activity over time 150

Oct. – Dec. (YoY%) 100

Submarket

'23

'22

%

Northwest

9

10

-10%

Northeast

5

8

-38%

Central West

4

14

-71%

64 (-40%) 42 (-45%) 37 (-21%) 35 (-34%)

Central East

6

4

50%

14 (-48%)

South

2

2

0%

0

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

50

7

CLOSED HOMES

By Price Range

Rolling Last 12 Months (YoY%)

 Closed homes were down over 25% in Q4 driven by low closings below $1M

<$500K $1.5M – $1.99M

 Very difficult to close on a home for under $500K (averaging less than 1 home per month) given land value in Hinsdale  Closing activity expected to follow decline in listings / contracts with low home inventory

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

250

200

Oct. – Dec. (YoY%)

150

'23

'22

%

<$500K

0

6

-100%

$500K - $999K

8

18

-56%

$1M - $1.49M

12

11

9%

$1.5M - $1.99M

10

8

25%

$2M - $2.99M

5

5

0%

$3M+

1

1

0%

100

50

0

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

Price Range

72 (-42%) 55 (-47%) 36 (-31%) 31 (-6%) 10 (-55%) 8 (-58%)

8

By Submarket

Rolling Last 12 Months (YoY%)

 Closed activity was mostly lower during the quarter; Northwest was up by 1 home  West submarkets had the most closings during the quarter and last 12 months; Central had 60%+ more closings than any other Hinsdale area

Northwest Central East

Northeast South

Central West

200

 South Hinsdale is less than half of any other area over the last 12 months 150

Oct. – Dec. (YoY%) '23

'22

%

Northwest

10

9

11%

Northeast

4

9

-56%

Central West

10

14

-29%

Central East

5

8

-38%

South

3

4

-25%

100 70 (-34%) 43 (-48%) 36 (-25%) 33 (-47%) 15 (-53%)

50

0

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

Submarket

9

HOME INVENTORY

By Price Range

Dec. Quarter End (YoY%)

 Available homes declined over 25% on already very low inventory

<$500K $1.5M – $1.99M

 Overall home inventory is down more than 70% from December 2020  Limited inventory expected to continue driving “seller’s market” conditions

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

100

80

Dec. Trends (Relative%) 60 75% 50%

8% 13% 23% 23%

25%

37%

0%

12%

22% 10%

'19

'20

<$500K $1M – $1.49M $2M – $2.99M

14% 5% 12%

24%

31%

13% 15% 17% 15%

31% 7%

33% 7%

29%

'21

'22

'23

6% 12% 21% 9%

$500K – $999K $1.5M – $1.99M $3M+

40

20

0

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

100%

7% 10% 16% 18%

10 (-33%) 8 (+33%) 7 (0%) 4 (-50%) 3 (0%) 2 (-71%) 10

By Submarket

Dec. Quarter End (YoY%)

 Home inventory is down materially across submarkets; Northwest was the only area that held flat with others lower

Northwest Central East

 All Hinsdale submarkets currently have last than 10 homes available

Dec. Trends (Relative%) 100%

6% 25%

14% 23%

10% 31%

28%

21%

15% 26%

26% 16%

21% 14% 24%

'19 Northwest

'20 '21 Northeast

'22

Central East

South

75%

10% 23%

10% 30%

50%

25%

24% 11% 25%

25% 0%

19% 24%

'23 Central West

Central West

100

75

50

25

0

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

 Low inventory expected to persist over the coming months

Northeast South

9 (-10%) 7 (0%) 6 (-33%) 4 (-64%) 3 (-50%) 11

CONTRACT TIME

By Price Range

Rolling Last 12 Months (YoY%)

 Days between listing date and contract signing varied by price range, but were mostly higher from a low day count  Homes priced $2M – $3M went under twice as fast as last year in Q4; homes priced over $3M are still faster over the last 12 months  Overall contract times remain short, but days increased going into year end

<$500K $1.5M – $1.99M

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

350 300 250

Oct. – Dec. (YoY%)

200 '23

'22

%

<$500K

N/A

32

N/M

$500K - $999K

19

9

111%

$1M - $1.49M

33

14

136%

$1.5M - $1.99M

63

31

103%

$2M - $2.99M

30

63

-52%

$3M+

36

25

44%

150 100 50 0

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

Price Range

71 (+173%) 28 (-35%) 22 (+57%) 15 (+25%) 10 (0%) 9 (+29%) 12

By Submarket

Rolling Last 12 Months (YoY%)

 Contract times were mixed in Q4 with only the Northeast and South shorter

Northwest Central East

 Central East and South are taking 2x – 3x longer to contract compared to other areas during the last 12 months  Only the North submarkets remain lower over the last 12 months

Northeast South

Central West

200

150

Oct. – Dec. (YoY%) '23

'22

%

Northwest

30

23

30%

Northeast

6

12

-50%

Central West

42

26

62%

Central East

32

16

100%

South

69

75

-8%

100

50

0

34 (+62%) 27 (+69%)

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

Submarket

11 (-8%) 10 (+43%) 10 (+11%) 13

PRICE DISCOUNTS

By Price Range  Closed price discounts tightened some during the quarter; homes under $2M sold at a 4% – 5% discount to asking price  Homes priced $2M+ sold at full price in Q4; these ranges tightened the most  Price discounts expected to remain narrow generally due to limited home availability

Rolling Last 12 Months (YoY%) <$500K $1.5M – $1.99M

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+ 99% (-1%) 98% (-2%) 98% (-1%) 98% (+2%)

100% 95%

93% (-1%)

Oct. – Dec. (YoY%)

90%

'23

'22

%

<$500K

N/A

90%

N/M

$500K - $999K

95%

98%

-2%

$1M - $1.49M

96%

96%

0%

$1.5M - $1.99M

95%

93%

2%

$2M - $2.99M

100%

87%

14%

$3M+

100%

94%

6%

85% 80% 75% 70%

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

Price Range

89% (-5%)

14

By Submarket

Rolling Last 12 Months (YoY%)

 Narrowing discounts in most submarkets; only Central East widened and went to more than a 10% discount (only 5 closings)

Northwest Central East

 South area continues to see homes sell near listing price (at full list in last 12 months)  Buyers and sellers often meeting at 3% – 4% or tighter discount to the original asking price (situation dependent)

Oct. – Dec. (YoY%)

Northeast South

Central West

100%(+2%) 98% (0%) 98% (-1%) 97% (-3%)

100%

95%

94% (-2%)

90%

'23

'22

%

Northwest

95%

94%

2%

Northeast

95%

93%

2%

Central West

98%

96%

2%

Central East

87%

92%

-5%

South

98%

89%

9%

85%

80%

75%

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

Submarket

15

PRICE PER SQ. FT.

By Price Range  Relative prices often increase with absolute prices, which was generally the case in Q4; most price ranges seeing some increases  Homes priced $1.5M – $2M declined 15%+ whereas homes over $3M increased 35%+  Relative pricing has been supported by limited home inventory and buyer demand

Rolling Last 12 Months (YoY%) <$500K $1.5M – $1.99M

$500K – $999K $2M – $2.99M

$1M – $1.49M $3M+

$700 $600 $549 (+23%)

Oct. – Dec. (YoY%)

$500

'23

'22

%

<$500K

N/A

$209

N/M

$500K - $999K

$286

$280

2%

$1M - $1.49M

$299

$296

1%

$1.5M - $1.99M

$373

$446

-16%

$2M - $2.99M

$419

$400

5%

$3M+

$568

$419

36%

$400

$363 (0%) $338 (-7%) $315 (+20%) $313 (+7%) $288 (+2%)

$300 $200 $100

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

Price Range

16

By Submarket

Rolling Last 12 Months (YoY%)

 Hinsdale submarkets experienced mixed price per sq. ft. growth in Q4 (2 areas increased / 2 areas decreased / 1 are flat)

Northwest Central East

 South moved 35% higher for the quarter (only 3 closings); Northwest up the most over the last 12 months despite a soft Q4

$400

 East areas are the only submarkets down slightly over the last 12 months

$350

Oct. – Dec. (YoY%)

Northeast South

Central West

$345 (+15%) $337 (+3%) $316 (-2%) $312 (+10%)

$300

'23

'22

%

Northwest

$334

$336

-1%

Northeast

$271

$288

-6%

Central West

$309

$310

0%

Central East

$300

$255

18%

South

$445

$330

35%

$288 (-5%) $250

$200

$150

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

Submarket

17

CLOSED SALE PRICES

By Submarket  Overall sale prices were up meaningfully across Hinsdale, except Central East (flat)

Rolling Last 12 Months (YoY%) Northwest Central East

 Central East remains the highest price area over the last 12 months despite the soft Q4; North and Central West at record levels  Closed sale prices should be reviewed with price per sq. ft. to gauge overall trends

Northeast South

Central West

$2.5M $2.3M $2.0M

Oct. – Dec. (YoY%)

$1.8M $1.5M

Submarket

'23

'22

%

Northwest

$1.6M

$1.2M

35%

$1.3M

Northeast

$1.4M

$873K

62%

$1.0M

Central West

$1.4M

$1.0M

37%

$0.8M

Central East

$1.2M

$1.1M

-1%

South

$1.8M

$953K

90%

$1.5 M (+8%) $1.4M (+8%) $1.3 M (+11%) $1.3 M (+18%) $1.1 M (+14%)

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

$0.5M

18

CLOSED SALE VOLUME

By Submarket  Overall sale volume declined over 10% for the quarter and more than 35% over the last 12 months

Rolling Last 12 Months (YoY%) Northwest Central East

 Northwest and South areas both increased in Q4; all areas lower over the last 12 months  Central West remains largest sale volume area submarket by a longshot

Northeast South

Central West

$175M $150M $125M

Oct. – Dec. (YoY%)

$100M Submarket

'23

'22

%

Northwest

$17M

$14M

26%

Northeast

$6M

$8M

-31%

$50M

Central West

$14M

$15M

-8%

$25M

Central East

$6M

$13M

-51%

South

$5M

$4M

19%

$75M

$100 M (-28%) $64M (-37%) $59 M (-49%) $39 M (-19%) $23 M (-42%)

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

$0M

19

COMPARING HOME TYPES Analyzing Hinsdale Home Types for Q4 2023

Home Type

Single Family

Town Houses

Condos

New Listings

42

34%

1

67%

7

133%

Contracted Homes

29

31%

2

0%

5

29%

Closed Homes

36

27%

3

50%

3

57%

Home Inventory

34

26%

-

100%

1

67%

Contract Time

35 days

52%

-

100%

9 days

57%

Price Discounts

97%

1%

98%

1%

103%

12%

Price per Sq. Ft.

$306

0%

$258

13%

$409

91%

Closed Sale Price

$1.4M

25%

$350K

11%

$890K

137% 20

COMPARING SUBURBS Analyzing Western Suburb Markets

Suburb

Median Price

Q4 YoY%

Price / Sq. Ft.

Q4 YoY% Contract Days Q4 YoY%

Burr Ridge

$818K

2%

$247

20%

13

18%

Clarendon Hills

$515K

-32%

$325

26%

25

39%

Downers Grove

$480K

12%

$254

15%

10

-17%

Elmhurst

$553K

-1%

$291

10%

13

0%

Glen Ellyn

$577K

33%

$267

-2%

10

25%

Hinsdale

$1.4M

25%

$306

0%

35

52%

La Grange

$580K

-7%

$276

-3%

16

-20%

Oak Brook

$1.2M

44%

$261

32%

14

-64%

Western Springs

$750K

2%

$333

10%

4

-60%

21

www.kellystetlerrealestate.com

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. Top Compass team ranking in DuPage County based on MRED BrokerMetrics for closed transaction volume (including MLS-verified off-market) dates 1/1/23 – 12/31/23 across all residential property types.

Hinsdale Office One Grant Square #201 Hinsdale, IL 60521