There are fourteen homes priced above $1.25M in Elmhurst, but there have only been two sales above that price level in the last 12 months.
Eight of those homes are priced above $1.5M, a level that saw only one sale during the past 12 months.
At the current sales pace it will take 7 years to absorb the higher-priced homes currently on the market in Elmhurst. That daunting number doesn't seem to have deterred builders from continuing to bring new homes to market, including this offering at $1.9M.
And, a builder is moving forward with plans to build luxury townhomes in downtown Elmhurst in the $525K price range.