Elgin, IL Home Values & Market Trends
Real estate market trends reflect that there have been 1,408 transactions over the past year in Elgin. The median value for residential home transactions that occurred over the previous year is $285,532.51. The number of current listings in Elgin is 37, and the percentage of properties for sale in the city is 37.00%. Elgin, IL currently has 183 properties in foreclosure, 6 bank owned properties, 18 properties headed for auction, and 37 properties for sale.
Elgin, IL Real Estate Market Overview
Housing Market Summary for Elgin, IL
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $274.4K | $272.2K | -0.83% |
| Median Sold Price | $270.1K | $272.2K | 0.78% |
| Homes For Sale | 46 | 32 | -30.43% |
| Homes Sold | 988 | 868 | -12.15% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Elgin, IL
Browse Homes in Elgin, IL
Elgin home values range from $28,638 to $1,812,718. The median estimated value of a home in Elgin is $285,532.51. The median list price of a home is 279,900, and the total count of properties in the city is 34,945.
- Pre-ForeclosurePre-foreclosure homes account for 0.46% of all residential properties in Elgin, IL with 60123 containing 73 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 3 zips within Elgin, IL; of those zips, the estimated home value for pre-foreclosure homes ranges from $474,000 in 60124 to the lowest home value of $113,670 in 60120.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Elgin, IL ranges from the highest value of $288,093 in 60123 to the lowest value of $199,385 in 60120. Bank owned homes and properties account for 0.02% of properties in Elgin, IL. There are 3 zips within Elgin, IL; 60120 containing 5 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions60120 has 10 auction properties, the highest number of properties going to auction in a single zip in the state of Elgin, IL. Auction homes and other auction properties account for 0.05% of all properties in Elgin, IL. There are 3 zips within Elgin, IL; of those zips, the median estimated home value for homes going to auction ranges from $394,145 in 60124 to the lowest value of $119,922 in 60124.
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