Elgin, IL metro area Housing Market
Cool MarketComprehensive housing market data for the Elgin, IL metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$367K
↑ 6.3% YoY
Days on Market
54 days
↑ 8.0% YoY
Active Inventory
2,102
↑ 18.8% YoY
Homes Sold
791
↑ 23.8% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Elgin, IL metro area Market Summary
The Elgin, IL metro area housing market is cooling down. As of March 2026, the median home sale price is $367K, up 6.3% year-over-year. Homes are spending a median of 54 days on the market, 8.0% longer than a year ago.
There are 2,102 homes for sale — 18.8% more than last year. With 2.7 months of supply, this is a seller's market. 1,142 new listings were added during this period, up 20.3% year-over-year.
Homes are selling for 99.8% of their list price on average, suggesting room for negotiation. 36.7% of homes sell above their asking price. 13.0% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
65
Contributing Factors
How This Market Compares
vs. National Median
vs. Illinois Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. Prices are 16% below the national median, which could indicate stronger cash flow potential.
Elgin, IL metro area Market Trends
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Detailed Market Metrics
Median List Price
$400K
Price per Sq Ft
$207
Sale-to-List Ratio
99.8%
Months of Supply
2.7
Sold Above List
36.7%
Price Drops
13.0%
New Listings
1,142
↑ 20.3% YoY
Pending Sales
1,156
Off Market in 2 Weeks
57.3%
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.