Home Sales Fall in Elgin Real Estate Market

The Elgin market pulled back with a 2.2% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (119.2) with 134 homes sold. On the other hand, close-by Hoffman Estates registered 79 homes sold in the same time frame, the most of all surrounding cities. The median sales price dropped to $172,500 over the latest reporting period for Elgin, down from $173,000. With only three months of inventory to sell, Elgin is a seller's market, in spite of the dip in sales.

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Demographic facts for Elgin:

  • The average elevation in this area is 770 feet.
  • The median income per household is $59,082 in the area.
  • The student-to-counselor ratio is 1,188:1. (513:1 = national average)

Data reported through 10/12/2016

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Century 21 New Heritage
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Premier Living Properties
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Keller Williams Success Realty
Snapped 3 homes in this area

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