Elgin Real Estate Market Update November 2018


Real Estate In Elgin is a balanced market that favoring sellers. We still see plenty of inventory, so plenty of bargains for the buyers. There is a 5.52 months supply of inventory on the market in Elgin on November 30, 2018.



Now is the Time to Sell!

The average market time for a Single Family Homes to sell in Elgin last month was 30 days.
It took on average 33 days to sell Elgin Condo, Townhouse or a Duplex.
The number of home sales in Elgin from October 1, 2018 through October 31, 2018 was 105 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 $105/Sq.Ft, which is 20% a decline from last month.



In Elgin there were 18 units sold in October in the price range between $78,000 – $148,357 with an average of 2.4 bedrooms and 1.5 bathrooms and average Square footage of 1,179SF.

In Elgin there were 75 units sold in October in the price range between $148,358 – $331,856 with an average of 3 bedrooms and 1.9 bathrooms and average Square footage of 1,711SF.

In Elgin there were 12 units sold in October in the price range between $331,857 – $445,000 with an average of 3.8 bedrooms and 2.4 bathrooms and average Square footage of 2,789SF.

The low price range had the most activity. Homes up to $148,357 were on the market on average 30 days and sold an average of $124,319.

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
Sep 1, 2018 – Sep 30, 2018
Oct 1, 2018 – Oct 31, 2018
Month
September
October
Average Listing Price
$227,516
$285,137
Median Sales Price
$213,997
$218,713
Month supply of inventory
4.2
5.5
Market Time Detached
72 days
30 days
Market Time Attached
0 days
33 days
Inventory
6 properties
795 properties
Low price range
$169,989 – $191,993
$78,000 – $148,357
Low price range market time
172 days
30 days
Low price range units sold
0
18
Low price range bedrooms
4
2.4
Low price range bathrooms
2
1.5
Low price range approx sqft
1,164 SF
1,179 SF
Mid price range
$191,994 – $231,998
$148,358 – $331,856
Mid price range market time
48 days
29 days
Mid price range units sold
2
75
Mid price range bedrooms
3.5
3
Mid price range bathrooms
2.1
1.9
Mid price range approx sqft
1,646 SF
1,711 SF
High price range
$231,999 – $250,000
$331,857 – $445,000
High price range market time
21 days
47 days
High price range units sold
1
12
High price range bedrooms
4
3.8
High price range bathrooms
2.1
2.4
High price range approxsqft
2,214 SF
2,789 SF

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

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