Is Elgin, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Elgin was a Seller's Market.
Housing Prices in Elgin, TX
How much do homes in Elgin, TX cost?
Median Sold Price
$327,010
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elgin was $327,010 in March 2024, down 3.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255K | $163.5K | -35.9% |
2 Bedrooms | $313.2K | $270.6K | -13.6% |
3 Bedrooms | $330K | $316.5K | -4.1% |
4 Bedrooms | $350K | $347.9K | -0.6% |
5+ Bedrooms | $400K | $375K | -6.3% |
Summary: Elgin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.9%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
Elgin | $340K | $327K | -3.8% |
Northeast Travis | $443.1K | $396.3K | -10.6% |
Housing Supply in Elgin, TX
How many homes are available in Elgin, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
112 | 139 | +24.1% |
Summary: The Elgin real estate market had 139 homes for sale in March 2024, a 24.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 52 | 75 | +44.2% |
4 Bedrooms | 42 | 43 | +2.4% |
5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The Elgin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 44.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 21 | +110.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Elgin in March 2024, up by 110.0% month-over-month. Of the 21 sold homes, 57% were sold under asking, 38% were sold at asking, and 5% were sold over asking.
Days on Market for Elgin, TX
How long does it take to sell a home in Elgin, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
68 Days | 78 Days | +14.1% |
Summary: Homes in Elgin had an average of 78 days on market in Mar 2024, up by 14.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in Elgin; 19% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.