Altos Market Data for Realtors

Elgin, IL

Single-Family Homes

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Elgin, IL

Tue May 30 2023
This week the median list price for Elgin, IL is $484,250 with the market action index hovering around 68. This is an increase over last month's market action index of 65. Inventory has decreased to 56. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Elgin, IL

Tue May 30 2023
This week the median list price for Elgin, IL is $484,250 with the market action index hovering around 68. This is an increase over last month's market action index of 65. Inventory has decreased to 56. 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 continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Real-Time Market Profile

Never miss important changes in the Elgin market.
Median List Price $484,250
Median Price of New Listings $319,900
Per Square Foot $186
Average Days on Market 60
Median Days on Market 21
Price Decreased 18%
Price Increased 7%
Relisted 13%
Inventory 56
Median Rent
Market Action 68
Strong Seller's Market

While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

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
$600,000 3,192 0.5 - 1 acre 4 3 1 3 1 73
$517,445 2,753 0.25 - 0.5 acre 4 2.5 0 1 6 21
$377,450 2,094 8,000 - 10,000 sqft 3 2.5 29 6 3 17
$234,950 1,291 4,500 - 6,500 sqft 3 2 93 7 6 10