Is Elgin, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elgin has remained a Seller's Market.
Key Takeaway
Elgin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elgin, TX
How much do homes in Elgin, TX cost?
Median Sold Price
$316,445
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elgin have sold for 6.1% less than they did a year ago.
Summary: The median home sold price in Elgin was $316,445 in May 2024, down 6.1% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.1K | $163.5K | -28.0% |
| 2 Bedrooms | $305K | $264.6K | -13.2% |
| 3 Bedrooms | $315K | $309.9K | -1.6% |
| 4 Bedrooms | $353.5K | $339.4K | -4.0% |
| 5+ Bedrooms | $425.4K | $374.9K | -11.9% |
Summary: Elgin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 11.9%.
Median Sold Price Compared To Nearby Cities
| Elgin | $337K | $316.4K | -6.1% |
| Northeast Travis | $419.8K | $393.1K | -6.4% |
Housing Supply in Elgin, TX
How many homes are available in Elgin, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 173 | 189 | +9.2% |
Summary: The Elgin real estate market had 189 homes for sale in May 2024, a 9.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 103 | 110 | +6.8% |
| 4 Bedrooms | 47 | 56 | +19.1% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Elgin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 34 | +47.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elgin, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Elgin in May 2024, up by 47.8% month-over-month. Of the 34 sold homes, 38% were sold under asking, 21% were sold at asking, and 41% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 76 Days | +37.9% |
Summary: Homes in Elgin had an average of 76 days on market in May 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elgin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Elgin; 44% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
Listings courtesy of Unlock MLS as distributed by MLS GRID.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”. 
©2024 North Texas Real Estate Information Systems. All rights reserved. The database information herein is provided from and copyrighted by the North Texas Real Estate Information Systems, Inc. NTREIS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.