West Elgin Real Estate Statistics

West Elgin real estate average sold price in the last 30 days (January 21 - February 19) was $705,580, which is $280,393 (39.7%) higher than the average price of $425,187 in the previous 30 day period (December 22 - January 20), and $531,265 (75.3%) up from the same period 1 year ago ($174,315). West Elgin real estate prices over the last 30 days are also $193,739 (27.5%) higher than the average selling price of $511,841 over the past year.

West Elgin average sold price for homes was $705,580 in the last 30 days (January 21 - February 19), which is $280,393 (39.7%) up from the average home price of $425,187 in the previous 30 day period (December 22 - January 20), and $531,265 (75.3%) higher than the same period 1 year ago ($174,315). In the last 30 days West Elgin the average home price was $193,739 (27.5%) higher than the average selling price of $511,841 over the last 12 months.

Average selling price for West Elgin real estate was $705,580 in the last 30 days (January 21 - February 19), which is collectively $1,660 (0.2%) higher than the average asking price of $924,339. This represents an increase of $161,297 (101.0%) compared to $159,637 (25.4%) Sold-Under-Asking price from the previous 30 day period (December 22 - January 20).

The maximum Sold Over/Under Asking ratio in West Elgin during the last 12 months was recorded in July, 2024 with an average of $2,919 under the asking price, while the minimum occurring in January, 2025 with $129,700 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 50.0% with 5 properties sold and 6 new properties listed in the past 30 days (January 21 - February 19). This represents a decrease from 133.3% recorded during the previous 30 day period (December 22 - January 20), and a decrease from 122,900.0% compared to the same period one year ago.

Over the the last year the highest SNLR in West Elgin was 187.5% recorded in July and the lowest was in September at 44.4%. 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 5 properties that were successfully sold in West Elgin in the last 30 days (January 21 - February 19) was 26 days, which is 75 days less than 101 days average in the previous 30 day period (December 22 - January 20) and 30 days shorter than during the same period a year ago (56 days).

There were 4 delisted properties in West Elgin, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 79 days on the market. This is 25 days shorter than the average of 104 days during the previous 30 day period (December 22 - January 20) and 33 days less compared to the same period last year average of 112 days on the market.

4 West Elgin properties that didn't sell stayed on the market 203.8% longer than 5 that sucessfully sold over the last 30 days - 26 days when sold vs 79 days when delisted respectively.

Average Days on the Market in West Elgin over the past 12 months for properties that have sold was 47.6 days, with -1,253.2 days for those properties that did not sell.

10 new properties were listed on the market in West Elgin in the last 30 days (January 21 - February 19). During the same time 5 properties were sold and 4 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 1 properties (or 10.0%).

During the previous 30 day period (December 22 - January 20) there were 6 new properties listed, 8 sold and 15 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was June with 12 new properties listed, the slowest - December with 3 new listings and a yearly average of 9 new listings per month.

There were a total of 10 homes listed during the last 30 days (January 21 - February 19), which is 100.0% of all properties listed in West Elgin. This is a 66.7% increase compared with a previous 30 day period (December 22 - January 20) and 900.0% up from the same period a year ago. Over the past year an average of 9 homes are were listed per month.

There were a total of 5 homes sold during the last 30 days (January 21 - February 19), which is 100.0% of all properties sold in West Elgin. This is a 37.5% decline compared with a previous 30 day period (December 22 - January 20) and 99.6% down from the same period a year ago. Over the past year an average of 9 homes are were sold per month.