Altos Market Data for Realtors
Elgin, IL
Single-Family Homes
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Elgin, IL
Fri Apr 26 2024
This week the median list price for Elgin, IL is $530,000 with the market action index hovering around 53. This is an increase over last month's market action index of 49. Inventory has increased to 77.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $530,000 | |
| Median Price of New Listings | $323,500 | |
| Per Square Foot | $200 | |
| Average Days on Market | 58 | |
| Median Days on Market | 35 | |
| Price Decreased | 36% | |
| Price Increased | 17% | |
| Relisted | 18% | |
| Inventory | 77 | |
| Median Rent | ||
| Market Action | 53 | |
| Strong Seller's Market | ||
The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $694,995 | 3,389 | 1 - 2.5 acres | 4 | 3.5 | 24 | 3 | 0 | 42 |
| $566,990 | 2,802 | 0.25 - 0.5 acre | 4 | 2.5 | 1 | 3 | 3 | 56 |
| $465,000 | 2,044 | 0.25 - 0.5 acre | 4 | 2.5 | 6 | 2 | 3 | 49 |
| $290,000 | 1,511 | 8,000 - 10,000 sqft | 3 | 2 | 67 | 10 | 4 | 14 |