West Elgin Real Estate Statistics

West Elgin real estate average sold price in the last 30 days (April 14 - May 13) was $481,071, which is $10,238 (2.1%) higher than the average price of $470,833 in the previous 30 day period (March 15 - April 13), and $76,071 (15.8%) up from the same period 1 year ago ($405,000). West Elgin real estate prices over the last 30 days are also $335,270 (69.7%) higher than the average selling price of $145,801 over the past year.

West Elgin average sold price for homes was $481,071 in the last 30 days (April 14 - May 13), which is $10,238 (2.1%) up from the average home price of $470,833 in the previous 30 day period (March 15 - April 13), and $76,071 (15.8%) higher than the same period 1 year ago ($405,000). In the last 30 days West Elgin the average home price was $335,270 (69.7%) higher than the average selling price of $145,801 over the last 12 months.

Average selling price for West Elgin real estate was $481,071 in the last 30 days (April 14 - May 13), which is collectively $20,314 (2.7%) lower than the average asking price of $744,513. This represents a decline of $2,948 (17.0%) compared to $17,366 (2.9%) Sold-Under-Asking price from the previous 30 day period (March 15 - April 13).

The maximum Sold Over/Under Asking ratio in West Elgin during the last 12 months was recorded in May, 2023 with an average of $55,100 over the asking price, while the minimum occurring in April, 2024 with $19,605 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in West Elgin was 93.3% with 14 properties sold and 5 new properties listed in the past 30 days (April 14 - May 13). This represents a decrease from 120.0% recorded during the previous 30 day period (March 15 - April 13), and a decrease from ∞ compared to the same period one year ago.

Over the the last year the highest SNLR in West Elgin was 51,600.0% recorded in February and the lowest was in May at 0.0%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 14 properties that were successfully sold in West Elgin in the last 30 days (April 14 - May 13) was 37 days, which is 44 days less than 81 days average in the previous 30 day period (March 15 - April 13) and 35 days longer than during the same period a year ago (2 days).

There were 9 delisted properties in West Elgin, those that got either Expired, Suspended or Terminated over the last 30 days (April 14 - May 13) with an average of 75 days on the market. This is 36 days shorter than the average of 111 days during the previous 30 day period (March 15 - April 13) and 75 days more compared to the same period last year average of 0 days on the market.

9 West Elgin properties that didn't sell stayed on the market 102.7% longer than 14 that sucessfully sold over the last 30 days - 37 days when sold vs 75 days when delisted respectively.

Average Days on the Market in West Elgin over the past 12 months for properties that have sold was 13.8 days, with 69.2 days for those properties that did not sell.

15 new properties were listed on the market in West Elgin in the last 30 days (April 14 - May 13). During the same time 14 properties were sold and 9 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 8 properties (or 53.3%).

During the previous 30 day period (March 15 - April 13) there were 5 new properties listed, 6 sold and 5 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was April with 10 new properties listed, the slowest - May with 0 new listings and a yearly average of 1 new listings per month.

There were a total of 14 homes sold during the last 30 days (April 14 - May 13), which is 100.0% of all properties sold in West Elgin. This is a 133.3% increase compared with a previous 30 day period (March 15 - April 13) and 1,300.0% up from the same period a year ago. Over the past year an average of 114 homes are were sold per month.