Home Sales Decline in Elgin Real Estate Market

The Elgin market pulled back with a 9.3% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (119.8) with 127 homes sold. Meanwhile, close-by Hoffman Estates reported 73 homes sales, the highest number from all the surrounding cities. Prices are rising in Elgin, and the median sales price this period increased from $170,000 to $174,000. In spite of the decrease in sales, a low three months of inventory signals that Elgin is a seller's market.

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Demographic facts for Elgin:

  • This area has a rating of 67 for the population growth. (Scale: 1 = Worst, 100 = Best)
  • For every 100,000 people there are 134.9 physicians.
  • The area's health cost index score is 106.5. (100 = national average)
  • Residents who travel to work by car account for 78.2% of all commuters, while carpools account for 12.3%, and public transit makes up 2.7%.

Data reported through 10/19/2016

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Keller Williams Success Realty
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