Elgin Real Estate Market Update August 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 5.42 months supply of inventory on the market in Elgin on August 31, 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 20 days to sell Elgin Condo, Townhouse or a Duplex. The number of home sales in Elgin from July 1, 2018 through July 31, 2018 was 146 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 1% a decline from last month.

In Elgin there were 14 units sold in July in the price range between $50,000 – $139,800 with an average of 2.1 bedrooms and 1.5 bathrooms and average Square footage of 1,111SF.

In Elgin there were 130 units sold in July in the price range between $139,801 – $439,799 with an average of 3.2 bedrooms and 2 bathrooms and average Square footage of 1,883SF.

In Elgin there were 2 units sold in July in the price range between $439,800 – $650,000 with an average of 4.5 bedrooms and 4 bathrooms and average Square footage of 4,132SF.

The low price range had the most activity. Homes up to $139,800 were on the market on average 28 days and sold an average of $111,892.

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!