Is Elgin Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Elgin Township has remained a Seller's Market.
Housing Prices in Elgin Township, IL
How much do homes in Elgin Township, IL cost?
Median Sold Price
$310,050
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elgin Township was $310,050 in March 2024, up 17% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $155K | +19.2% |
2 Bedrooms | $221K | $241.1K | +9.1% |
3 Bedrooms | $272K | $309.7K | +13.8% |
4 Bedrooms | $360K | $448.2K | +24.5% |
5+ Bedrooms | $425.5K | $529.9K | +24.5% |
Summary: Elgin Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes increased by 24.5%.
Median Sold Price Compared To Nearby Cities
South Elgin | $294.6K | $353K | +19.8% |
Elgin Township | $265K | $310K | +17.0% |
Elgin | $269.9K | $305.1K | +13.0% |
Hanover Township | $276.4K | $300K | +8.5% |
Bartlett | $349.9K | $370K | +5.7% |
Housing Supply in Elgin Township, IL
How many homes are available in Elgin Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
349 | 416 | +19.2% |
Summary: The Elgin Township real estate market had 416 homes for sale in March 2024, a 19.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 8 | +33.3% |
2 Bedrooms | 68 | 89 | +30.9% |
3 Bedrooms | 119 | 136 | +14.3% |
4 Bedrooms | 113 | 135 | +19.5% |
5+ Bedrooms | 43 | 48 | +11.6% |
Summary: The Elgin Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes increased by 11.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
90 | 94 | +4.4% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 94 homes were sold or pending in Elgin Township in March 2024, up by 4.4% month-over-month. Of the 94 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% were sold over asking.
Days on Market for Elgin Township, IL
How long does it take to sell a home in Elgin Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 30 Days | -1.0% |
Summary: Homes in Elgin Township had an average of 30 days on market in Mar 2024, down by 1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 94 homes were sold in Elgin Township; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.