Hello, Elgin! It's The Kombrink Team at One Source Realty, bringing you the latest insights from the Elgin real estate market for April 2024. Whether you're considering buying, selling, or just keeping an eye on the market, these updates are crucial for making informed decisions. Let’s break down what’s happening right now in Elgin.

Current Market Conditions

As of April 2024, Elgin’s real estate market is showing dynamic activity with a 1.07 Months Supply of Inventory. This represents a significant decrease of 15.08% compared to the previous year. What does this mean for you? Well, the market is moving swiftly, and inventory is being absorbed faster than before, indicating strong demand and a competitive market environment.

Elgin IL Months supply of housing inventory April 2024

Pricing Dynamics

One of the most encouraging aspects of our current market is the List to Sold Price ratio, which stands at an impressive 100.4%. This statistic means that on average, homes in Elgin are not only selling at their asking price but slightly above it. Sellers are enjoying great returns on their real estate investments, while buyers need to act smartly and decisively in this competitive market.

Elgin IL Sold Homes list to sold price ratio April 2024

Speed of Sales

The median days on market for homes in Elgin is currently at 14 days. Homes are selling remarkably quickly, underscoring the urgency for buyers to move fast when they find a property they love. Sellers, this is your moment to shine, as your home is likely to be on the market for a very short time before it finds a new owner.

Elgin IL Market Time for homes April 2024

Median Sold Price

The median sold price in Elgin stands at $336,250, a figure that highlights the robust health of our local real estate market. This price point makes Elgin an attractive area for both buyers and sellers, offering a solid investment opportunity in a thriving community.

Elgin IL median home sold price April 2024


The Elgin real estate market in April 2024 is vibrant and fast-moving. Whether you are looking to buy or sell, the current conditions provide great opportunities for quick transactions and favorable deals. If you're ready to take action or have any questions about the market, don’t hesitate to reach out to us at 630-402-0021. Our goal is to help you navigate this dynamic market and achieve your real estate objectives.

Posted by The Kombrink Team on


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