Is Elgin, IL 60123 a buyer’s or seller’s market?

The Elgin housing market right now

In the three months ending August 31, 2026, 50% of homes in Elgin, IL 60123 sold above their list price, the typical home went under contract in 44 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 143 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 46%, homes sold about as fast and the median sale price rose 4% to $324,859. Overall, Elgin is more competitive than a year ago, so tougher for buyers.

Within Kane County, homes here sell faster than in 59% of the county’s ZIP codes, and sell more often over asking than in 53%. On our competition score, Elgin ranks #113 of 464 IL ZIP codes with enough sales (score 77 out of 100).

Nearby, buyers who want less competition could look at Hampshire 60140 (32% sold over asking) or Elgin 60124 (33% sold over asking), while Carpentersville 60110 (60% sold over asking) and Saint Charles 60174 (52% sold over asking) are even more competitive.