Is Elgin Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$310,550
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elgin Township was $310,550 in April 2024, up 15.1% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $155K | +14.8% |
2 Bedrooms | $222K | $243.6K | +9.7% |
3 Bedrooms | $275K | $310K | +12.7% |
4 Bedrooms | $365K | $443.3K | +21.5% |
5+ Bedrooms | $447.5K | $535K | +19.6% |
Summary: Elgin Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 19.6%.
Median Sold Price Compared To Nearby Cities
South Elgin | $300K | $359.3K | +19.8% |
Elgin Township | $269.9K | $310.5K | +15.1% |
Elgin | $270.2K | $308.3K | +14.1% |
Hanover Township | $275K | $301.3K | +9.6% |
Bartlett | $348K | $375K | +7.8% |
Housing Supply in Elgin Township, IL
How many homes are available in Elgin Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
421 | 463 | +10.0% |
Summary: The Elgin Township real estate market had 463 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 91 | 105 | +15.4% |
3 Bedrooms | 136 | 144 | +5.9% |
4 Bedrooms | 134 | 148 | +10.4% |
5+ Bedrooms | 52 | 57 | +9.6% |
Summary: The Elgin Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 9.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
108 | 111 | +2.8% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
59 Homes Were Sold
Over Asking
Summary: A total of 111 homes were sold or pending in Elgin Township in April 2024, up by 2.8% month-over-month. Of the 111 sold homes, 25% were sold under asking, 22% were sold at asking, and 53% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 20 Days | -20.4% |
Summary: Homes in Elgin Township had an average of 20 days on market in Apr 2024, down by 20.4% compared to last year.
Breakdown of Home Sale Times
87 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 111 homes were sold in Elgin Township; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.