Elgin Real Estate Market Update May 2018


Real Estate In Elgin is a sellers’ market with low inventory of homes in Elgin and a lot of buyer interest. There is a 4.46 months supply of inventory on the market in Elgin on May 31, 2018.



Now is the Time to Sell!

The average market time for a Single Family Homes to sell in Elgin last month was 39 days.
It took on average 27 days to sell Elgin Condo, Townhouse or a Duplex.
The number of home sales in Elgin from April 1, 2018 through April 30, 2018 was 127 units. That is 1% above the number of homes sold last month in Elgin.

The average price per square foot in the area is now $102/Sq.Ft, which is 1% an increase from last month.



In Elgin there were 16 units sold in April in the price range between $67,000 – $140,903 with an average of 2.4 bedrooms and 1.4 bathrooms and average Square footage of 1,118SF.

In Elgin there were 107 units sold in April in the price range between $140,904 – $382,402 with an average of 3 bedrooms and 2 bathrooms and average Square footage of 1,861SF.

In Elgin there were 4 units sold in April in the price range between $382,403 – $550,000 with an average of 4.8 bedrooms and 2.6 bathrooms and average Square footage of 3,218SF.

The low price range had the most activity. Homes up to $140,903 were on the market on average 25 days and sold an average of $111,255.

If you are looking for a new home for you and your family, or looking for an investment property, you can’t go wrong by getting a prime piece of real estate in Elgin. Search all Elgin homes for Sale on propertyup.com If you are considering viewing Elgin, you may want to do so now!

Elgin
Mar 1, 2018 – Mar 31, 2018
Apr 1, 2018 – Apr 30, 2018
Month
March
April
Average Listing Price
$240,042
$240,947
Median Sales Price
$211,608
$214,805
Month supply of inventory
4.1
4.5
Market Time Detached
49 days
39 days
Market Time Attached
36 days
27 days
Inventory
623 properties
665 properties
Low price range
$75,000 – $143,304
$67,000 – $140,903
Low price range market time
27 days
25 days
Low price range units sold
0
16
Low price range bedrooms
2.3
2.4
Low price range bathrooms
1.5
1.4
Low price range approx sqft
1,168 SF
1,118 SF
Mid price range
$143,305 – $328,303
$140,904 – $382,402
Mid price range market time
43 days
35 days
Mid price range units sold
87
107
Mid price range bedrooms
3
3
Mid price range bathrooms
1.9
2
Mid price range approx sqft
1,770 SF
1,861 SF
High price range
$328,304 – $445,000
$382,403 – $550,000
High price range market time
98 days
88 days
High price range units sold
14
4
High price range bedrooms
3.9
4.8
High price range bathrooms
2.3
2.6
High price range approxsqft
2,948 SF
3,218 SF

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source http://realestatevibe.com/elgin-real-estate-market-update-May-2018/

Comments

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