Originally called Clintonville, this little ‘burb in the Fox Valley has about 24000 residents. Money magazine has twice listed South Elgin in their top 100 places to live in the USA.
The data today will be of all price ranges, single family home only, all property types (detached, attached, etc), all seller types (traditional, REO, short sale), all sq footage, and all bedrooms.
The average price of a home in South Elgin has reached $370K, up more than 3% year over year.
South Elgin inventory keeps dropping. With 35 homes currently available, that is down 18% YOY. This is the LOWEST amount going back to 2008 (I don’t have data available prior).
Average time on market for a property has started creeping up, now at 33 days.
Price per square foot (although not a great measurement of home values) is now at $204, an 8% increase over the last year.
Good news for sellers who don’t like a lot of foot traffic to get the job done, showings per listing to get a house on the market is down to 8, and 8% decrease YOY.
South Elgin housing supply is down to .9 months. It doesn’t get more of a seller’s market than this.
And lastly, you can see that there are currently 385 properties under contract in South Elgin. In the best of markets and the worst of markets, there is, and will always be, housing transactions being completed. Maybe your’s is next?
That’s all for today. If you do or don’t like something about The Fox Valley Home Report, then please let me know. If I’m not including something that you think should, please tell me.
All data courtesy of InfoSparks. I am not a financial advisor, nor an attorney. Do not misconstrue any of this to be financial advice, and I recommend that you contact an advisor or an attorney if you have those types of questions.