$2,849 Closing Credit*
$239,900
1,272 SqFt
2 Beds
•1 Full Bath
Listing Office: Montgomery Holst Realty
Is Elgin, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Elgin was a Seller's Market.
Key Takeaway
Elgin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elgin, MN
How much do homes in Elgin, MN cost?
Median Sold Price
$248,000
$173/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$65,800(+36.1%)
Key Takeaway
Homes in Elgin have sold for 36.1% more than they did a month ago.
Summary: The median home sold price in Elgin was $248,000 in November 2024, up 36.1% from last month, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $182.2K | - | N/A |
| 3 Bedrooms | - | $248K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Elgin housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Elgin | $182.2K | $248K | +36.1% |
| Elgin Township | $182.2K | $248K | +36.1% |
| Elgin | $182.2K | $248K | +36.1% |
Housing Supply in Elgin, MN
How many homes are available in Elgin, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Elgin real estate market had 9 homes for sale in November 2024, a 10.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elgin housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elgin, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Elgin in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Elgin, MN
How long does it take to sell a home in Elgin, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 24 Days | +50.0% |
Summary: Homes in Elgin had an average of 24 days on market in Nov 2024, up by 50% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elgin are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in Elgin; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
