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Featured local agent — South Elgin, IL
Sarah Mitchell
Compass Real Estate · South Elgin, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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South Elgin, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$365,000median sale price
How is the South Elgin, IL housing market right now?
The median home sale price in South Elgin, IL is $365,000, down 0.3% year-over-year. Homes sell in an average of 50 days with 80 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 South Elgin a buyer's or seller's market?
South Elgin, IL is currently a seller's market, based on 3.2 months of supply and homes selling in about 50 days. How we determine this →
Homes sold
25
Last 12 weeks
Days on market
50
Average pace
Active listings
80
3.2 months supply
Sale-to-list
101.7%
Above asking
What does the South Elgin housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $365,000 |
| Median list price | $384,900 |
| Year-over-year price change | -0.3% |
| Average days on market | 50 days |
| Active inventory | 80 listings |
| Months of supply | 3.2 months |
| Sale-to-list price ratio | 101.7% |
| Median price per sq ft | $215/sq ft |
| Homes sold (latest month) | 25 |
| New listings (latest month) | 45 |
| Listings with a price cut | 10.0% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in South Elgin by property type?
How the South 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 | $430,250 | $235/sq ft | 14 | 62 days |
| Condo / Co-op | $285,000 | $209/sq ft | 5 | 44 days |
| Townhouse | $295,500 | $199/sq ft | 6 | 41 days |
Source: Redfin · Updated monthly
The South Elgin housing market is currently classified as a seller's market with a median sale price of $365,000. Prices have fallen 0.3% compared to last year, with homes spending an average of 50 days on market, indicating 3.2 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 3.1x provides context for how home values compare to local earning capacity.
Homes for sale in South Elgin
There are currently 80 homes listed for sale in South Elgin, Illinois. The median listing price is $385K.
Active listings
80
Homes on market
Median list price
$385K
Avg. days on market
50
Days until sale
New this week
45
Newly listed
Who lives in South Elgin?
Population
23,984
Median income
$123,744/yr
Median age
39.2 years
Owner-occupied
81.3%
College grads
38.4%
Avg commute
28.8 min
Source: U.S. Census Bureau ACS
What are homes worth in South Elgin?
Zillow home value
$381,190
Zillow rent index
$2,192/mo
Price-to-rent ratio
14.5x
Price-to-income
3.1x
Source: Zillow Research
What is it like to live in South Elgin?
South Elgin is a community of approximately 24K residents with a median age of 39.2 years.The median household income is $123,744, which reflects a relatively affluent area with strong earning potential. 38.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 81.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 28.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, South Elgin offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve South Elgin?
6 schools tracked · 5,708 students
The largest public schools serving South 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.
South Elgin High School
Grades 9-12 · 2,770 students
Kenyon Woods Middle School
Grades 7-8 · 853 students
Clinton Elem School
Grades K-6 · 593 students
Fox Meadow Elementary School
Grades PK-6 · 564 students
Corron Elementary School
Grades K-5 · 540 students
Willard Elem School
Grades PK-6 · 388 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 South Elgin, IL?
Want a head-to-head view? Compare South Elgin side-by-side with any other U.S. city using our market-comparison tool.
Is South Elgin a good real estate investment market?
For investors evaluating South Elgin, the price-to-rent ratio of 14.5x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 0.3% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on South Elgin's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using South Elgin's median home price.
Frequently asked questions
What is the average home price in South Elgin?
The median home sale price in South Elgin is $365,000, down 0.3% from last year.
How long do homes stay on market in South Elgin?
Homes typically spend 50 days on market before going under contract.
What is the median income in South Elgin?
The median household income is $123,744 per year.
Is South Elgin a buyer's or seller's market?
With 3.2 months of supply, South Elgin is currently a seller's market.
What is the Zillow home value estimate for South Elgin?
The Zillow Home Value Index (ZHVI) for South Elgin is $381,190, representing the typical home value in the area.
What is the median condo price in South Elgin?
The median condo/co-op sale price in South Elgin, IL is $285,000, compared to $430,250 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in South Elgin?
The median single-family home price in South Elgin, IL is $430,250 (about $235 per square foot).
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