Central Elgin Real Estate Statistics

Central Elgin real estate average sold price in the last 30 days (March 23 - April 21) was $639,256, which is $95,344 (14.9%) lower than the average price of $734,600 in the previous 30 day period (February 22 - March 22), and $44,256 (6.9%) up from the same period 1 year ago ($595,000). Central Elgin real estate prices over the last 30 days are also $69,218 (10.8%) higher than the average selling price of $570,038 over the past year.

Central Elgin average sold price for homes was $689,817 in the last 30 days (March 23 - April 21), which is $70,166 (10.2%) down from the average home price of $759,983 in the previous 30 day period (February 22 - March 22), and $94,817 (13.7%) higher than the same period 1 year ago ($595,000). In the last 30 days Central Elgin the average home price was $166,220 (24.1%) higher than the average selling price of $523,597 over the last 12 months.

Average selling price for Central Elgin real estate was $639,256 in the last 30 days (March 23 - April 21), which is collectively $5,112 (0.7%) lower than the average asking price of $778,065. This represents an increase of $34,141 (87.0%) compared to $39,253 (6.0%) Sold-Under-Asking price from the previous 30 day period (February 22 - March 22).

The maximum Sold Over/Under Asking ratio in Central Elgin during the last 12 months was recorded in November, 2023 with an average of $0 over the asking price, while the minimum occurring in June, 2023 with $114,000 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 131.6% with 25 properties sold and 5 new properties listed in the past 30 days (March 23 - April 21). This represents a decrease from 260.0% recorded during the previous 30 day period (February 22 - March 22), and an increase from 100.0% compared to the same period one year ago.

Over the the last year the highest SNLR in Central Elgin was 25,700.0% recorded in February and the lowest was in May at 0.0%. 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 25 properties that were successfully sold in Central Elgin in the last 30 days (March 23 - April 21) was 57 days, which is 27 days more than 30 days average in the previous 30 day period (February 22 - March 22) and 13 days longer than during the same period a year ago (44 days).

There were 14 delisted properties in Central Elgin, those that got either Expired, Suspended or Terminated over the last 30 days (March 23 - April 21) with an average of 77 days on the market. This is 47 days shorter than the average of 124 days during the previous 30 day period (February 22 - March 22) and 77 days more compared to the same period last year average of 0 days on the market.

14 Central Elgin properties that didn't sell stayed on the market 35.1% longer than 25 that sucessfully sold over the last 30 days - 57 days when sold vs 77 days when delisted respectively.

Average Days on the Market in Central Elgin over the past 12 months for properties that have sold was 50.8 days, with 66.2 days for those properties that did not sell.

19 new properties were listed on the market in Central Elgin in the last 30 days (March 23 - April 21). During the same time 25 properties were sold and 14 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 20 properties (or 105.3%).

During the previous 30 day period (February 22 - March 22) there were 5 new properties listed, 13 sold and 815 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was June with 6 new properties listed, the slowest - May with 0 new listings and a yearly average of 2 new listings per month.

There were a total of 10 homes listed during the last 30 days (March 23 - April 21), which is 52.6% of all properties listed in Central Elgin. This is a 400.0% increase compared with a previous 30 day period (February 22 - March 22) and 900.0% up from the same period a year ago. Over the past year an average of 1 homes are were listed per month.

There were a total of 17 homes sold during the last 30 days (March 23 - April 21), which is 68.0% of all properties sold in Central Elgin. This is a 41.7% increase compared with a previous 30 day period (February 22 - March 22) and 1,600.0% up from the same period a year ago. Over the past year an average of 198 homes are were sold per month.