Elgin Market Report · IL Home Values
Elgin, IL holds about 40,523 homes, 72% of them owner-occupied, with a median year built of 1977. Elgin features a range of historic single-family properties alongside newer suburban subdivisions. Purchasers weigh lower price points near $68,000 against older housing maintenance requirements. The location provides alternative price access within Kane and Cook counties.
The Elgin median sold price stands at $368,000 as of May 2026, +4.5% year over year. The twelve-month peak was $368,000 in May 2026. 1,177 homes closed over the period, averaging 101.3% of list price most recently, with 48 days on market.
Read the trend, not the single month. Elgin pricing follows preparation and seasonality more than it follows rate news, and the spread between prepared and unprepared homes is wider than the median suggests. A street-level read is a different number from the one above, and the table below is where it starts.
Elgin by the month
12 months of Elgin closings, June 2025 through May 2026. Each panel is one series; the table carries every figure.
The properties shown here are transactions I personally represented, compiled from my public agent record. This site is not an MLS IDX feed and does not show the full active market; ask me and I will pull everything that fits.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
Twelve months of Elgin closings
| Month | Median sold | Closed | New listings | Avg DOM | List-to-sale |
|---|---|---|---|---|---|
| June 2025 | $352,000 | 109 | 137 | 42 | 101.2% |
| July 2025 | $321,500 | 128 | 142 | 49 | 99.6% |
| August 2025 | $331,000 | 112 | 120 | 48 | 100.5% |
| September 2025 | $339,500 | 100 | 105 | 51 | 99.2% |
| October 2025 | $326,250 | 106 | 132 | 56 | 99.7% |
| November 2025 | $334,000 | 94 | 67 | 55 | 99.5% |
| December 2025 | $342,500 | 114 | 41 | 60 | 99% |
| January 2026 | $308,000 | 55 | 66 | 70 | 98.2% |
| February 2026 | $315,750 | 62 | 98 | 57 | 98.4% |
| March 2026 | $330,000 | 80 | 139 | 58 | 99.9% |
| April 2026 | $365,000 | 107 | 138 | 42 | 100.7% |
| May 2026 | $368,000 | 110 | 139 | 48 | 101.3% |
The properties shown here are transactions I personally represented, compiled from my public agent record. This site is not an MLS IDX feed and does not show the full active market; ask me and I will pull everything that fits.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
What the Elgin numbers say
The median Elgin home sold for $368,000 in May 2026, up 4.5% from $352,000 in June 2025.
Homes averaged 48 days on the market and closed at 101.3% of list price in May 2026. That is 6 days slower than June 2025.
At the pace of the last three months, the 273 homes on the market in Elgin represent about 2.8 months of supply: less than four months, which is the range where prepared homes tend to clear quickly and buyers have little room to wait.
Buyers should expect to move on a home in days rather than weeks, and to have the comparable sales in hand before writing. Sellers are getting close to their asking price, which usually means the price was set against recent comparable sales rather than against what neighbors are asking.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
Talk to someone who works Elgin
I have 2 years in these neighborhoods and answer personally.