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Elgin Real Estate Market Update June 2018

By Author: John Herman
Total Articles: 111

Real Estate In Elgin is a sellers’ market with low inventory of homes in Elgin and a lot of buyer interest. There is a 4.85 months supply of inventory on the market in Elgin on June 30, 2018.

Now is the Time to Sell!

The average market time for a Single Family Homes to sell in Elgin last month was 38 days.
It took on average 31 days to sell Elgin Condo, Townhouse or a Duplex.
The number of home sales in Elgin from May 1, 2018 through May 31, 2018 was 144 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 $108/Sq.Ft, which is 11% an increase from last month.

In Elgin there were 14 units sold in May in the price range between $45,500 – $140,807 with an average of 2.2 bedrooms and 1.5 bathrooms and average Square footage of 1,096SF.

In Elgin there were 124 units sold in May in the price range between $140,808 – $405,556 with an average of 3 bedrooms and 2 bathrooms and average Square footage of 1,928SF.

In Elgin there were 6 units sold in May in the price range between $405,557 – $575,000 with an average of 4 bedrooms and 3 bathrooms and average Square footage of 3,569SF.

The low price range had the most activity. Homes up to $140,807 were on the market on average 36 days and sold an average of $112,446.

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!

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