$3,146 Closing Credit*
$264,900
1,142 SqFt
3 Beds
•1 Full Bath
Alma Crow, Listing Office: RE/MAX Real Estate Team
Is Elgin, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Elgin has remained a Seller's Market.
Key Takeaway
Elgin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elgin, OR
How much do homes in Elgin, OR cost?
Median Sold Price
$257,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$55,000(+27.2%)
Key Takeaway
Homes in Elgin have sold for 27.2% more than they did a year ago.
Summary: The median home sold price in Elgin was $257,000 in October 2024, up 27.2% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118.5K | $105K | -11.4% |
| 2 Bedrooms | $182K | $234.9K | +29.1% |
| 3 Bedrooms | $203.4K | $370K | +81.9% |
| 4 Bedrooms | $344.5K | $449.5K | +30.5% |
| 5+ Bedrooms | $325K | $158K | -51.4% |
Summary: Elgin housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes increased by 29.1%, 3 bedroom homes increased by 81.9%, 4 bedroom homes increased by 30.5%, and 5+ bedroom homes decreased by 51.4%.
Housing Supply in Elgin, OR
How many homes are available in Elgin, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Elgin real estate market had 11 homes for sale in October 2024, a 8.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elgin housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 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 may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Elgin in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Elgin, OR
How long does it take to sell a home in Elgin, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 63 Days | +73.4% |
Summary: Homes in Elgin had an average of 63 days on market in Oct 2024, up by 73.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elgin are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Elgin; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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