Elgin Homes - How is the real estate market doing?

People are always asking me “Lyn, how many homes are selling?”   Well that seems to make a difference is what area or subdivision you live in.  It’s really not an evasive answer.  Each area and subdivision is totally different!  Here’s what I can tell you about the overall Elgin market –

Single Family Homes -  Elgin averages 104 home sales a month.  Inventory is down substantially and is 63% less than last year. The percentage of homes going under contract each month is 21 to 22%. Market time is 157 days which isn't exactly quick. Average Sold Price was $151,379 for the 2nd quarter 2013.

Multi-Family Homes - Elgin averages 33 sales per month. Inventory is significantly lower than single family homes.  The percentage of homes going under contract each month is 22 to 28%. Market time is 147 days. Average sold price was $94,224 for the 2nd quarter.



Are you looking for a home in Elgin?   This is a great time to get your first home, move to a smaller home, or move to a larger home.  Interest rates are still great even with the latest rate hike and many programs are available depending on your down payment.  
 
These are the current market numbers and availability for housing types in Elgin.  Lots of great selections but you will have to move quickly in this market depending on your price range.
 
To search for homes currently available in Elgin, please go directly to my site to get started.     Homes     Condos/Townhomes     Historical Homes over 50+ years


Other interesting articles for sellers or buyers are also available at www.LynSims.net  to make you market 'savvy' before you start your home search. I will help you every step of the way!

Northwest Suburbs Market Report - June 2013