Central Elgin Real Estate Statistics

Central Elgin real estate average sold price in the last 30 days (January 21 - February 19) was $654,988, which is $91,377 (14.0%) higher than the average price of $563,611 in the previous 30 day period (December 22 - January 20), and $355,174 (54.2%) up from the same period 1 year ago ($299,814). Central Elgin real estate prices over the last 30 days are also $43,152 (6.6%) lower than the average selling price of $698,140 over the past year.

Central Elgin average sold price for homes was $654,988 in the last 30 days (January 21 - February 19), which is $24,316 (3.7%) up from the average home price of $630,672 in the previous 30 day period (December 22 - January 20), and $354,568 (54.1%) higher than the same period 1 year ago ($300,420). In the last 30 days Central Elgin the average home price was $80,540 (12.3%) lower than the average selling price of $735,528 over the last 12 months.

Average selling price for Central Elgin real estate was $654,988 in the last 30 days (January 21 - February 19), which is collectively $23,633 (2.9%) lower than the average asking price of $824,969. This represents an increase of $134,276 (85.0%) compared to $157,909 (21.3%) Sold-Under-Asking price from the previous 30 day period (December 22 - January 20).

The maximum Sold Over/Under Asking ratio in Central Elgin during the last 12 months was recorded in August, 2024 with an average of $14,906 under the asking price, while the minimum occurring in January, 2025 with $159,131 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Central Elgin was 39.1% with 9 properties sold and 18 new properties listed in the past 30 days (January 21 - February 19). This represents a decrease from 155.6% recorded during the previous 30 day period (December 22 - January 20), and a decrease from 118,650.0% compared to the same period one year ago.

Over the the last year the highest SNLR in Central Elgin was 220.0% recorded in December and the lowest was in September at 41.4%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 9 properties that were successfully sold in Central Elgin in the last 30 days (January 21 - February 19) was 74 days, which is 4 days less than 78 days average in the previous 30 day period (December 22 - January 20) and 21 days longer than during the same period a year ago (53 days).

There were 7 delisted properties in Central Elgin, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 104 days on the market. This is 33 days shorter than the average of 137 days during the previous 30 day period (December 22 - January 20) and 1 days less compared to the same period last year average of 105 days on the market.

7 Central Elgin properties that didn't sell stayed on the market 40.5% longer than 9 that sucessfully sold over the last 30 days - 74 days when sold vs 104 days when delisted respectively.

Average Days on the Market in Central Elgin over the past 12 months for properties that have sold was 61.1 days, with 105.4 days for those properties that did not sell.

23 new properties were listed on the market in Central Elgin in the last 30 days (January 21 - February 19). During the same time 9 properties were sold and 7 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 7 properties (or 30.4%).

During the previous 30 day period (December 22 - January 20) there were 18 new properties listed, 28 sold and 61 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was July with 36 new properties listed, the slowest - December with 5 new listings and a yearly average of 22 new listings per month.

There were a total of 20 homes listed during the last 30 days (January 21 - February 19), which is 87.0% of all properties listed in Central Elgin. This is a 33.3% increase compared with a previous 30 day period (December 22 - January 20) and 900.0% up from the same period a year ago. Over the past year an average of 20 homes are were listed per month.

There were a total of 9 homes sold during the last 30 days (January 21 - February 19), which is 100.0% of all properties sold in Central Elgin. This is a 62.5% decline compared with a previous 30 day period (December 22 - January 20) and 99.6% down from the same period a year ago. Over the past year an average of 17 homes are were sold per month.