Elgin, IL metro area Housing Market
Cool MarketComprehensive housing market data for the Elgin, IL metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: January 2026
Median Sale Price
$356K
↑ 6.1% YoY
Days on Market
71 days
↑ 12.7% YoY
Active Inventory
1,625
↑ 4.4% YoY
Homes Sold
487
↓ 13.5% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Elgin, IL metro area Market Summary
The Elgin, IL metro area housing market is cooling down. As of January 2026, the median home sale price is $356K, up 6.1% year-over-year. Homes are spending a median of 71 days on the market, 12.7% longer than a year ago.
There are 1,625 homes for sale — 4.4% more than last year. With 3.3 months of supply, this is a seller's market. 619 new listings were added during this period, up 4.4% year-over-year.
Homes are selling for 98.9% of their list price on average, suggesting room for negotiation. 23.6% of homes sell above their asking price. 16.1% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
68
Contributing Factors
How This Market Compares
vs. National Median
vs. Illinois Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. Prices are 16% below the national median, which could indicate stronger cash flow potential.
Elgin, IL metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$380K
Price per Sq Ft
$198
Sale-to-List Ratio
98.9%
Months of Supply
3.3
Sold Above List
23.6%
Price Drops
16.1%
New Listings
619
↑ 4.4% YoY
Pending Sales
690
Off Market in 2 Weeks
33.9%
Other Markets in Illinois
Chicago, IL metro area
$348K · 70d on market
Lake County, IL metro area
$361K · 66d on market
Peoria, IL metro area
$163K · 40d on market
Rockford, IL metro area
$215K · 28d on market
Springfield, IL metro area
$182K · 9d on market
Champaign, IL metro area
$227K · 57d on market
Bloomington, IL metro area
$237K · 54d on market
Decatur, IL metro area
$115K · 47d on market
Analyze a deal in Elgin, IL metro area
Calculate cash flow, Cap Rate, DSCR, and Cash-on-Cash Return for any rental property — free and instant.
Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.