Photo: SounderBruce · CC BY-SA 4.01,177 homes sold in Elgin in the last year, at a typical $338K
About one sale in 4 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Elgin homes are listed.
Every place Elgin homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Elgin.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
9% of Elgin’s sales are condos, at $154K less than a house
805 houses and 106 condos sold in the year to May 2026. Condos sell faster. Houses draw more bidding wars.
typical sale · 805 sold in 12 months
- Per square foot
- $207IL $180
- Days to sell
- 52
- Sold over asking
- 40%
- Listings with a price cut
- 18%
typical sale · 106 sold in 12 months
- Per square foot
- $186IL $251
- Days to sell
- 47
- Sold over asking
- 34%
- Listings with a price cut
- 17%
Multi-family (2–4 units): 42 sold, typical $332K
Townhouses: 224 sold, typical $303K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at twice the 2016 price
1,177 sales in the last year, against 1,747 in 2021 and a low of 1,165 in 2024. The typical sale went from $169K in 2016 to $338K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $350K buys in Elgin
Check a listing against what Elgin homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Elgin are more common than before the pandemic, but 41% fewer homes come up for sale
We read every month of Elgin’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 1,177 sales.
If you’re buying in Elgin
- Shop in March. It brings about 163 new listings a month, close to the busiest month, with fewer bidding wars (30% over asking).
- Less room to haggle. Only 18% of listings cut their price, against 23% before the pandemic.
- Bid near asking. Buyers paid 99.9% of the list price on average; 39% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 188 a month), and the most competition: 42% close over asking. March offers nearly as much choice with fewer homes bid up (30%). January has the least competition (26%) but only about 106 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Illinois as a whole
| Elgin now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 39% | 26% | 52% | 37% |
| Gone within two weeksShare of homes under contract within 14 days | 52% | 39% | 62% | 46% |
| Listings with a price cutShare of homes for sale that cut their price | 18% | 23% | 22% | 19% |
| Price paid vs. askingAverage sale price ÷ list price | 99.9% | 98.2% | 100.9% | 99.2% |
| Days to sellMedian days from listing to contract | 52 | 58 | 11 | 49 |
242 homes for sale on a typical day
That’s 1.6 times the 2021 low (149), 41% fewer than in 2017–19 and well under 2012’s 649.
1 in 6 listings has cut its price
18% in the last year, against 23% in 2017–19 and 19% across Illinois.
Since 2019, houses are up 69%, condos 63%
A house typically sold for $384K in the last year (805 sales), a condo for $231K (106).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Elgin ranks 153rd of 324 busy Illinois markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Elgin is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Elgin home costs about $2,402 a month
Price: Elgin’s typical sale, last 12 months. Property tax at Elgin’s 2.3% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Elgin is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 71.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $338K home, about $7,660 a year.
Taxes vs. neighborsSchools
The schools grade for Elgin, from test results, graduation and how much students grow.
Schools in ElginCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Sleepy Hollow, Gilberts and East Dundee sell for less a square foot
The busier markets within 25 miles of Elgin, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Elgin | 1,177 | $338K | $201 | 39% | 52 |
| Carpentersville | 287 | $286K | $201 | 38% | 50 |
| South Elgin | 263 | $359K | $210 | 44% | 47 |
| Gilberts | 116 | $407K | $180 | 32% | 59 |
| West Dundee | 82 | $414K | $201 | 41% | 63 |
| East Dundee | 46 | $318K | $193 | 39% | 50 |
| Sleepy Hollow | 41 | $477K | $190 | 32% | 65 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Elgin, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Elgin. People who follow the town see it, and so do people comparing Elgin with their own town. No commission, no listing fee.
Questions about buying a home in Elgin
What do homes sell for in Elgin, IL?
1,177 homes sold in the year to May 2026 at a typical $338K, $201 a square foot. Houses sold for about $384K, condos for about $231K.
Is Elgin a buyer’s or seller’s market?
A seller’s market: 273 homes were for sale in May 2026 and 110 sold, about 2.5 months of supply. Buyers paid 99.9% of asking on average, and 18% of listings cut their price.
When is the best time to buy in Elgin?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Elgin?
About 2.3% of a home’s value a year. On a $338K home that’s near $7,660.
Where can I see homes for sale in Elgin?
Zillow, Redfin, Realtor.com and Homes.com all carry Elgin’s MLS listings; the search links above open each one filtered to Elgin.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).