Elgin market snapshot — October 20, 2026
The MLS separates detached single-family houses from attached homes (townhomes, condos and duplexes). They're very different markets, so I report them side by side:
| Closings Sep 20 – Oct 19, 2026 | Detached houses | Townhomes & condos | All homes |
|---|---|---|---|
| Closed sales | 57 | 33 | 90 |
| Median sale price | $364,900 | $277,875 | $321,250 |
| Median days on market | 9 | 10 | 10 |
| Average days on market | 27 | 31 | 28 |
| Sale-to-list price | 101.0% | 98.0% | 99.9% |
| Active listings (Oct 20) | 111 | 47 | 158 |
| Pending / contingent | 102 | 33 | 135 |
| Months of supply | 1.9 | 1.4 | 1.8 |
| Median asking price, active | $500,000 | $309,900 | $402,450 |
Elgin, IL (MLS area 123), detached and attached residential only; rentals, land and multi-unit buildings excluded. Source: my analysis of an MRED MLS export dated Oct 20, 2026.
What it means
For buyers: Elgin is still a seller's market, but supply rose to about 1.8 months. Good homes still go fast (median 10 days), so get pre-approved before you tour. Detached houses are selling slightly over asking (101%); townhomes and condos leave a little room to negotiate (98%).
For sellers: priced right, homes are going under contract in about 10 days, and 135 buyers are already under contract. With more listings coming on (142 new in the last 30 days), price it right from day one and present it well.
Entry-level homes: 54 of the 90 sales closed under $350,000: 29 townhomes/condos and 25 detached houses. Of the active listings under $350,000, 40 are attached and 19 are detached.
Compared with the prior 30 days (closings Aug 21 – Sep 19): detached median $440,000 → $364,900 and attached $290,000 → $277,875, on 106 → 90 sales. One month is a small sample, and medians move with the mix of homes that sold, so watch the trend over several months.
Busiest Elgin neighborhoods this month
| Neighborhood | Closed | Avg. sale price | Avg. days on market | Sale-to-list |
|---|---|---|---|---|
| Edgewater by Del Webb (detached, 55+) | 6 | $398,567 | 25 | 99.9% |
| Cobblers Crossing (detached & attached) | 4 | $312,875 | 9 | 99.2% |
| Bowes Creek Country Club (detached) | 3 | $513,967 | 10 | 101.1% |
Subdivisions with 3+ closings, Sep 20 – Oct 19, 2026. Small samples: one sale can move an average.
12-month median prices by neighborhood
| Neighborhood | 12-month median | Sales |
|---|---|---|
| College Green | $290,000 | 21 |
| Cobblers Crossing | $325,000 | 23 |
| Valley Creek | $380,000 | 15 |
| Edgewater by Del Webb (55+) | $410,000 | 45 |
| Bowes Creek Country Club | $501,000 | 26 |
| Highland Woods | $648,000 | 28 |
| Ponds of Stony Creek | $689,000 | 42 |
Trailing 12 months as of early October 2026, from my neighborhood guides. Source: my analysis of MRED MLS data.
How I calculate these numbers
- Area and home types: Elgin (MLS area 123), detached single-family and attached homes (townhomes, condos, duplexes) reported separately. Rentals, land and multi-unit buildings are excluded.
- Period: homes that closed in the last 30 days before the export date.
- Days on market: the MLS Market Time for each closed sale: the days the listing was on the market before it went under contract. I show the median (the typical home) and the average. The average is higher because a few homes that sat for months pull it up.
- Sale-to-list price: sale price ÷ final list price, averaged across sales.
- Months of supply: active listings ÷ closed sales in the last 30 days. Under about 2 months generally favors sellers.
I update this page monthly. These numbers describe Elgin as a whole; your home's value depends on its condition, street and features. Ask me for a value on your specific home.
Frequently asked questions
What is the median home price in Elgin, IL?
For Elgin closings Sep 20 – Oct 19, 2026, the median sale price was $364,900 for detached single-family houses and $277,875 for townhomes and condos ($321,250 combined), according to Maria MartiNEZ's analysis of MRED MLS data.
Is Elgin a buyer's or seller's market?
Elgin is still a seller's market, with about 1.8 months of supply as of October 20, 2026 (1.9 months for detached houses and 1.4 for townhomes and condos). Under about 2 months generally favors sellers.
How fast do homes sell in Elgin?
For closings Sep 20 – Oct 19, 2026, the median Elgin home spent 10 days on the market (MLS Market Time); the average was 28 days because a few homes sat much longer.
Are townhomes and condos cheaper than houses in Elgin?
Yes. The median townhome or condo sold for $277,875 versus $364,900 for a detached house (Sep 20 – Oct 19, 2026), and 29 of 33 attached sales closed under $350,000.
How often is this Elgin market report updated?
Monthly. Maria MartiNEZ analyzes MLS exports and publishes an updated Elgin report each month.