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South Elgin Real Estate Market Update May 2018

By Author: John Herman
Total Articles: 93

Real Estate In South Elgin is a balanced market that favoring sellers. We still see plenty of inventory, so plenty of bargains for the buyers. There is a 5.19 months supply of inventory on the market in South Elgin on May 31, 2018.

Now is the Time to Sell!

The average market time for a Single Family Homes to sell in South Elgin last month was 30 days.
It took on average 14 days to sell South Elgin Condo, Townhouse or a Duplex.
The number of home sales in South Elgin from April 1, 2018 through April 30, 2018 was 43 units. That is 1% above the number of homes sold last month in South Elgin.

The average price per square foot in the area is now $108/Sq.Ft, which is 32% an increase from last month.

In South Elgin there were 14 units sold in April in the price range between $120,000 – $181,120 with an average of 2.4 bedrooms and 1.2 bathrooms and average Square footage of 1,174SF.

In South Elgin there were 26 units sold in April in the price range between $181,121 – $373,619 with an average of 3.4 bedrooms and 2.1 bathrooms and average Square footage of 2,197SF.

In South Elgin there were 3 units sold in April in the price range between $373,620 – $505,000 with an average of 4.3 bedrooms and 3.4 bathrooms and average Square footage of 3,548SF.

The low price range had the most activity. Homes up to $181,120 were on the market on average 9 days and sold an average of $156,557.

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 South Elgin. Search all South Elgin homes for Sale on propertyup.com If you are considering viewing South Elgin, you may want to do so now!

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