Real Estate Market Update for Elgin, IL

Video: Real Estate Community Tour for Elgin, IL

See Real estate community tour for Elgin, IL
Welcome to September's Market Update. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 23% from one year earlier, and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 250-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 20%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 170-thousand dollars. The number of units sold increased 4% year-over-year, and decreased 9% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Elgin, IL
Area Information for Elgin, IL
  • Population: 111,527
  • Median Age: 34.72 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 3
  • Sales Tax: 8%
  • Population Density: 2,991/sq mi
  • Population Change Since 2000: 18.66%
  • Closest Airport: Chicago O'hare International
  • Closest College: Judson University
  • Closest Jr. College: Elgin Community College
  • Median Household Income: $59,380
  • Annual Residential Turnover: 13%
  • Median Home Sales Price: $155,000
  • Closest Major Sports Team: Kane County Cougars (a)
  • Change Avg. Household Income Since 2000: 15.65%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Elgin, IL
Median Age: 34.72 Married: 39% Number of Households: 36,284 Households with Children: 14,168
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Elgin, IL

      School Name Distance Type Grades School Rating Parent Rating
      Gifford Street High School 0.1 mi Public 7-12 0 0
      Central School Program 0.2 mi Public 8-12 0 3
      Channing Memorial Elementary School 0.2 mi Public K-6 1 0
      St. Mary School 0.2 mi Catholic PRESCHOOL-8 0 0
      St Joseph School 0.3 mi Catholic PRESCHOOL-8 0 0
      Elgin Academy 0.3 mi Private PRESCHOOL-12 0 0
      St Johns Lutheran School 0.4 mi Private PRESCHOOL-8 0 0
      Ronald D O'neal Elementary School 0.4 mi Public K-6 2 0
      Ellis Middle School 0.5 mi Public 7-8 2 0
      Bethlehem Lutheran Child Dev Center 0.7 mi Private PRESCHOOL-K 0 0
      St Edward Central Catholic High School 0.7 mi Catholic 9-12 0 4
      Larsen Middle School 0.8 mi Public 7-8 2 0
      Mckinley Elementary School 0.9 mi Public K-6 1 0
      Lowrie Elementary School 0.9 mi Public K-6 1 0
      Garfield Elementary School 0.9 mi Public PRESCHOOL-6 1 0
      The Learning Tree East 1.0 mi Private K-K 0 0
      St Laurence Elementary School 1.0 mi Catholic PRESCHOOL-8 0 0
      Lords Park Elementary School 1.2 mi Public K-6 1 0
      Washington Elementary School 1.2 mi Public K-6 2 0
      Huff Elementary School 1.3 mi Public PRESCHOOL-6 1 0
      Larkin Center School 1.4 mi Private 1-12 0 0
      Abbott Middle School 1.4 mi Public 7-8 2 0
      Coleman Elementary School 1.6 mi Public K-6 1 0
      Highland Elementary School 1.7 mi Public K-6 2 0
      Elgin High School 1.7 mi Public 9-12 1 3
      Institute Of Islamic Education 1.8 mi Private 6-12 0 0
      Harriet Gifford Elementary School 1.9 mi Public K-6 1 0
      Kimball Middle School 1.9 mi Public 7-8 1 0
      Summit School 2.0 mi Private 1-12 0 0
      Illinois Park Elem School 2.0 mi Public PRESCHOOL-K 0 0
      Larkin High School 2.0 mi Public 9-12 1 3
      St Thomas More Elementary School 2.2 mi Catholic PRESCHOOL-8 0 0
      The Einstein Academy 2.3 mi Private PRESCHOOL-12 0 0
      Special Creations 2.4 mi Private PRESCHOOL-K 0 0
      Hilltop Elementary School 2.4 mi Public K-6 4 0
      Century Oaks Elementary School 2.6 mi Public K-6 1 0
      Creekside Elementary School 2.7 mi Public K-6 2 0
      Highland Christian Academy 2.7 mi Private PRESCHOOL-8 0 0
      Westminster Christian School 2.7 mi Private PRESCHOOL-12 0 0
      Hillcrest Elementary School 2.8 mi Public K-6 1 0
      The Learning Tree Inc 3.1 mi Private K-K 0 0
      Harvest Christian Academy 3.5 mi Private PRESCHOOL-12 0 0
      Harvest Christian Academy Of Rolling Meadows 3.5 mi Private PRESCHOOL-12 0 0
      Da Vinci Academy 4.4 mi Private PRESCHOOL-8 0 0
      Otter Creek Elementary School 4.8 mi Public PRESCHOOL-6 3 0
      Good Shepherd Lutheran School 4.8 mi Private PRESCHOOL-PRESCHOOL 0 0
      The Goddard School Of Elgin 5.0 mi Private PRESCHOOL-K 0 0
      Prairie Knolls Middle School 5.1 mi Public 6-7 4 0
      Prairie View Grade School 5.7 mi Public K-5 4 0
      Country Trails Elementary School 6.3 mi Public K-5 4 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Elgin, IL
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.