New Listing
$270,000
1670 College Green Dr
Elgin, IL 60123
3 bd2 ba1,255 sqft$215/ft²
Townhouse
Valeria Sanchez · MPower Residential Brokerage LLC
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Sarah Mitchell
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Compass Real Estate · Elgin, IL
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Elgin, IL(512) 555-0184TX License #0512847
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Elgin, IL Housing Market & Real Estate
Seller's market+4.8% YoY
Housing market overview · Updated monthly ·
$368,000median sale price
How is the Elgin, IL housing market right now?
The median home sale price in Elgin, IL is $368,000, up 4.8% year-over-year. Homes sell in an average of 48 days with 273 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Elgin a buyer's or seller's market?
Seller's market2.5 months of supply48 avg. days on market
Elgin, IL is currently a seller's market, based on 2.5 months of supply and homes selling in about 48 days. How we determine this →
Homes sold
110
Last 12 weeks
Days on market
48
Average pace
Active listings
273
2.5 months supply
Sale-to-list
101.3%
Above asking
What does the Elgin housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $368,000 |
| Median list price | $374,900 |
| Year-over-year price change | +4.8% |
| Average days on market | 48 days |
| Active inventory | 273 listings |
| Months of supply | 2.5 months |
| Sale-to-list price ratio | 101.3% |
| Median price per sq ft | $205/sq ft |
| Homes sold (latest month) | 110 |
| New listings (latest month) | 139 |
| Listings with a price cut | 15.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Elgin by property type?
How the Elgin, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $417,888 | $207/sq ft | 73 | 50 days |
| Condo / Co-op | $292,500 | $202/sq ft | 8 | 48 days |
| Townhouse | $322,450 | $198/sq ft | 22 | 45 days |
Source: Redfin · Updated monthly
The Elgin housing market is currently classified as a seller's market with a median sale price of $368,000. Prices have risen 4.8% compared to last year, with homes spending an average of 48 days on market, indicating 2.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.9x provides context for how home values compare to local earning capacity.
Homes for sale in Elgin
There are currently 273 homes listed for sale in Elgin, Illinois. The median listing price is $375K. Featured listings range from $270,000 to $708,385.
New Listing
21
$295,000
1780 Pebble Beach Cir
Elgin, IL 60123
3 bd3 ba1,450 sqft$203/ft²
Townhouse
Maria Tamayo · Luna Real Estate Inc.
View photos & details
New Listing
40
$410,000
2478 Crystal Creek Ln
Elgin, IL 60124
4 bd3 ba1,872 sqft$219/ft²
House9,583 sqft lot
Chris Macak · Keller Williams Infinity
View photos & details
New Listing
42
$415,000
585 Park St
Elgin, IL 60120
4 bd3 ba3,187 sqft$130/ft²
House8,599 sqft lot
Raymond Watson · RE/MAX All Pro
View photos & details
New Listing
32
$430,000
1932 Banks Dr
Elgin, IL 60123
4 bd3 ba2,410 sqft$178/ft²
House8,625 sqft lot
Veronica Rodriguez · Redfin Corporation
View photos & details
New Listing
36
$480,000
Address unavailable
Elgin, IL 60124
2 bd2 ba1,933 sqft$248/ft²
House8,276 sqft lot
Lauren Dettmann · Baird & Warner
View photos & details
New Build
34
$529,990
549 Ayre Dr
Elgin, IL 60124
4 bd3 ba2,235 sqft$237/ft²
House
Bill Flemming · HomeSmart Connect LLC
View photos & details
New Build
16
$593,365
552 Arye Dr
Elgin, IL 60124
4 bd2 ba2,536 sqft$234/ft²
House
View photos & details
New Build
24
$593,365
552 Ayre Dr
Elgin, IL 60124
4 bd3 ba2,536 sqft$234/ft²
House
Bill Flemming · HomeSmart Connect LLC
View photos & details
New BuildPrice Drop −$14K
24
$599,535
589 Lismore Cir
Elgin, IL 60124
4 bd2 ba2,662 sqft$225/ft²
House
View photos & details
New BuildPrice Drop −$2K
25
$614,990
283 Snowdrop Ln
Elgin, IL 60124
4 bd3 ba2,932 sqft$210/ft²
House
View photos & details
New BuildPrice Drop −$69K
26
$708,385
1849 Diamond Dr
Elgin, IL 60124
4 bd2 ba3,275 sqft$216/ft²
House
View photos & details
Looking to buy in Elgin?
Get connected with a local real estate expert — free, no obligation.
Active listings
273
Homes on market
Median list price
$375K
Avg. days on market
48
Days until sale
New this week
139
Newly listed
Price drops:15.4%of listings
Sale-to-list:101.3%
Who lives in Elgin?
Population
114,106
Median income
$88,316/yr
Median age
36.3 years
Owner-occupied
71.4%
College grads
26.0%
Avg commute
27.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Elgin?
Zillow home value
$343,968
Zillow rent index
$1,909/mo
Price-to-rent ratio
15.0x
Price-to-income
3.9x
Source: Zillow Research
What is it like to live in Elgin?
Elgin is a community of approximately 114K residents with a median age of 36.3 years.The median household income is $88,316, which reflects a relatively affluent area with strong earning potential. 26.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 71.4%, reflecting strong community stability and long-term resident commitment. The average commute time is 27.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Elgin offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Elgin?
31 schools tracked · 17,355 students
The largest public schools serving Elgin, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Elgin High School
Grades 9-12 · 2,724 students
Larkin High School
Grades 9-12 · 2,274 students
Prairie Knolls Middle Sch
Grades 6-7 · 777 students
Country Trails Elem
Grades PK-5 · 692 students
Prairie View Grade School
Grades PK-5 · 679 students
Lords Park Elem School
Grades PK-6 · 679 students
Coleman Elem School
Grades PK-6 · 655 students
Highland Elem School
Grades PK-6 · 625 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Elgin, IL?
Want a head-to-head view? Compare Elgin side-by-side with any other U.S. city using our market-comparison tool.
Which ZIP codes are in Elgin?
Is Elgin a good real estate investment market?
For investors evaluating Elgin, the price-to-rent ratio of 15.0x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 4.8% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Elgin's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Elgin's median home price.
Frequently asked questions
What is the average home price in Elgin?
The median home sale price in Elgin is $368,000, up 4.8% from last year.
How long do homes stay on market in Elgin?
Homes typically spend 48 days on market before going under contract.
What is the median income in Elgin?
The median household income is $88,316 per year.
Is Elgin a buyer's or seller's market?
With 2.5 months of supply, Elgin is currently a seller's market.
How many homes are for sale in Elgin?
There are currently 273 homes listed for sale in Elgin, IL.
What is the Zillow home value estimate for Elgin?
The Zillow Home Value Index (ZHVI) for Elgin is $343,968, representing the typical home value in the area.
What is the median condo price in Elgin?
The median condo/co-op sale price in Elgin, IL is $292,500, compared to $417,888 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Elgin?
The median single-family home price in Elgin, IL is $417,888 (about $207 per square foot).
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