Altos Market Data for Realtors

Elgin, IL

Single-Family Homes

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Elgin, IL

Tue Sep 21 2021
This week the median list price for Elgin, IL is $374,900 with the market action index hovering around 55. This is less than last month's market action index of 58. Inventory has decreased to 132. Click here to stay informed with the Elgin market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Elgin, IL

Tue Sep 21 2021
This week the median list price for Elgin, IL is $374,900 with the market action index hovering around 55. This is less than last month's market action index of 58. Inventory has decreased to 132. Click here to stay informed with the Elgin market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Elgin market.
Median List Price $374,900
Median Price of New Listings $289,900
Per Square Foot $168
Average Days on Market 53
Median Days on Market 39
Price Decreased 36%
Price Increased 5%
Relisted 21%
Inventory 132
Median Rent $1,017
Market Action 55
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$575,000 3,371 1 - 2.5 acres 4 3 15 2 2 77
$443,044 2,825 0.25 - 0.5 acre 4 2 2 4 7 56
$299,900 1,866 0.25 - 0.5 acre 3 2 43 9 9 21
$199,000 1,282 6,500 - 8,000 sqft 3 1 96 8 6 28