Elgin, IL Housing Market
The Elgin housing market is somewhat competitive. Homes in Elgin receive 3 offers on average and sell in around 51 days. The median sale price of a home in Elgin was $335K last month, up 14.5% since last year. The median sale price per square foot in Elgin is $187, up 9.7% since last year.
Elgin Housing Market Trends
In March 2024, Elgin home prices were up 14.5% compared to last year, selling for a median price of $335K. On average, homes in Elgin sell after 51 days on the market compared to 58 days last year. There were 89 homes sold in March this year, down from 124 last year.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Elgin housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for around list price and go pending in around 51 days.
- Hot homescan sell for about 3% above list price and go pending in around 37 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for about 1% below list price and go pending in around 54 days.
- Hot homescan sell for about 3% above list price and go pending in around 31 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for about 1% above list price and go pending in around 41 days.
- Hot homescan sell for about 4% above list price and go pending in around 32 days.
Elgin Migration & Relocation Trends
- Across the nation, 3% of homebuyers searched to move into Elgin from outside metros.
- New York homebuyers searched to move into Elgin more than any other metro followed by St. Louis and San Francisco.
- 86% of Elgin homebuyers searched to stay within the Elgin metropolitan area.
- Cape Coral was the most popular destination among Elgin homebuyers followed by Sarasota and Miami.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Jan '24 - Mar '24 | ||
1 | 1,636 | ||
2 | 658 | ||
3 | 587 | ||
4 | 406 | ||
5 | 355 | ||
6 | 290 | ||
7 | 132 | ||
8 | 128 | ||
9 | 38 | ||
10 | 32 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Jan '24 - Mar '24 | ||
1 | 2,272 | ||
2 | 1,425 | ||
3 | 1,310 | ||
4 | 1,309 | ||
5 | 1,270 | ||
6 | 1,127 | ||
7 | 901 | ||
8 | 786 | ||
9 | 743 | ||
10 | 734 |
Home offer insights for Elgin
Recent offers
- Offer Not Accepted|5 Weeks Ago~$325K OfferSold for $300K3 bd | 2.5 ba | ~2,000 sqftOver List Price6%Days on Market20Competing Offers5Down Payment~70%
- Offer Not Accepted|9 Weeks Ago~$400K OfferSold for $400K4 bd | 2.5 ba | ~2,500 sqftOver List Price0%Days on Market21Competing Offers3Down Payment~30%
- Offer Not Accepted|10 Weeks Ago~$325K OfferSold for $350K3 bd | 2.5 ba | ~2,000 sqftOver List Price3%Days on Market32Competing Offers3OfferAll Cash
- Offer Not Accepted|11 Weeks Ago~$450K OfferSold for $475K4 bd | 3.5 ba | ~2,750 sqftOver List Price0%Days on Market54Competing Offers—Down Payment~30%
View houses in Elgin that sold recently
Recently sold homes
- $465,000 Last Sold Price4 beds2.5 baths2,750 sq ft3128 Heritage Pkwy, Elgin, IL 60124List Price$469,000Sale to List1% under listDays on Market96 days3128 Heritage Pkwy, Elgin, IL 60124
- $270,000 Last Sold Price2 beds2.5 baths1,542 sq ft1086 Delta Dr, Elgin, IL 60123List Price$255,000Sale to List6% over listDays on Market32 days1086 Delta Dr, Elgin, IL 60123
- $229,000 Last Sold Price2 beds1 bath850 sq ft153 N Du Bois Ave, Elgin, IL 60123List Price$229,900Sale to List0% under listDays on Market50 days153 N Du Bois Ave, Elgin, IL 60123
- $300,000 Last Sold Price3 beds2 baths1,350 sq ft574 Thorndale Dr, Elgin, IL 60120List Price$275,000Sale to List9% over listDays on Market25 days574 Thorndale Dr, Elgin, IL 60120
- $569,900 Last Sold Price4 beds2.5 baths3,415 sq ft1831 Limestone Dr, Elgin, IL 60124Redfin CorporationList Price$579,900Sale to List2% under listDays on Market100 days1831 Limestone Dr, Elgin, IL 60124
- $535,990 Last Sold Price4 beds2.5 baths2,932 sq ft3619 Waterscape Ter, Elgin, IL 60124List Price$535,990Sale to List0% over listDays on Market80 days3619 Waterscape Ter, Elgin, IL 60124
- $505,000 Last Sold Price3 beds2 baths2,445 sq ft2475 Vista Trl, Elgin, IL 60124List Price$517,900Sale to List2% under listDays on Market57 days2475 Vista Trl, Elgin, IL 60124
- $539,000 Last Sold Price3 beds2 baths2,020 sq ft3542 Hidden Fawn Dr, Elgin, IL 60124List Price$539,000Sale to List0% over listDays on Market39 days3542 Hidden Fawn Dr, Elgin, IL 60124
See all recently sold homes in Elgin.
See listings
Schools in Elgin
- Elementary
- Middle
- High
GreatSchools Rating
10/10 Corron Elementary School Public • K-5 | 512 Students | 3 reviews |
9/10 Country Trails Elementary School Public • PreK-5 | 652 Students | 8 reviews |
8/10 Prairie View Grade School Public • PreK-5 | 660 Students | 7 reviews |
7/10 Sleepy Hollow Elementary School Public • K-5 | 319 Students | 8 reviews |
7/10 Nature Ridge Elementary School Public • K-6 | 596 Students | 2 reviews |
Climate's impact on Elgin housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Elgin.
Flood Factor - Major
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Minor
Wind Factor
Heat Factor - Moderate
Heat Factor
Transportation in Elgin
Walk Score®
Transit Score®
Bike Score®
More real estate resources for Elgin
New Listings in Elgin
Neighborhood Housing Markets
Zip Code Housing Markets
Nearby City Housing Markets
Neighborhood Listings
Zip Code Listings
Nearby City Listings
About us
Find us
Subsidiaries
Copyright: © 2024 Redfin. All rights reserved.
Updated January 2023: By searching, you agree to the Terms of Use, and Privacy Policy.
Do not sell or share my personal information.
REDFIN and all REDFIN variants, TITLE FORWARD, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.
California DRE #01521930
Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures
New Mexico Real Estate Licenses
TREC: Info About Brokerage Services, Consumer Protection Notice
If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.
REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.