Is Elgin, IL 60124 a buyer’s or seller’s market?
Elgin is a seller’s market. With about 2.1 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 65% of U.S. ZIP codes, and #280 of 464 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Elgin housing market right now
In the three months ending August 31, 2026, 33% of homes in Elgin, IL 60124 sold above their list price, the typical home went under contract in 60 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 149 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (33% then), homes sold more slowly (51 days then) and the median sale price rose 16% to $574,741. Overall, Elgin is less competitive than a year ago, which gives buyers more room.
Within Kane County, homes here sell more slowly than in 94% of the county’s ZIP codes, and sell less often over asking than in 94%. On our competition score, Elgin ranks #280 of 464 IL ZIP codes with enough sales (score 62 out of 100).
Nearby, Carpentersville 60110 (60% sold over asking) and Saint Charles 60174 (52% sold over asking) are even more competitive.
Run the numbers for 60124
Nearby markets
Aurora 60505Seller’s market $211 /sq ftAurora 60506Seller’s market $211 /sq ftBatavia 60510Seller’s market $237 /sq ftBig Rock 60511Seller’s market $172 /sq ft Browse all markets →Towns like Elgin nearby
Find towns like Elgin in other states →Where Elgin is
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Questions about Elgin real estate
Is Elgin a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Elgin, IL 60124 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Elgin?
The typical home went under contract in 60 days in the latest three months.
Do homes in Elgin sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 99.9% of the list price.
What are property taxes in Elgin?
About 2.26% of a home’s value a year in Kane County, or roughly $9,040 on a $400,000 home.
What is the median home price in Elgin?
The median sale price was $574,741 in the three months ending August 31, 2026, about $211 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology