In January 2017, there were 35 homes sold, with a median sale price of $160,000 - a 9.6% increase over the $146,000 median sale price for the same period of the previous year. There were 28 homes sold in Elgin in January 2016.
The median sales tax in Elgin for 2017 was $4,355. In 2016, the median sales tax was $4,384. This marks an decrease of 0.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.7%.
The following table compares Elgin to other Cook County cities with similar median sales prices in January 2017:
| City | Jan. 2017 Home Sales | Jan. 2016 Home Sales | % change (Total Home Sales) | Jan. 2017 Median Sales Price | Jan. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Palos Hills | 21 | 17 | 23.5% | $165,000 | $165,000 | 0% |
| Evergreen Park | 19 | 24 | -20.8% | $165,000 | $135,000 | 22.2% |
| River Grove | 9 | 10 | -10% | $163,000 | $132,750 | 22.8% |
| Tinley Park | 66 | 54 | 22.2% | $160,500 | $157,500 | 1.9% |
| Oak Lawn | 103 | 69 | 49.3% | $160,000 | $135,000 | 18.5% |
| Elgin | 35 | 28 | 25% | $160,000 | $146,000 | 9.6% |
| Merrionette Park | 3 | 2 | 50% | $159,500 | $100,000 | 59.5% |
| Wheeling | 34 | 32 | 6.3% | $158,000 | $147,500 | 7.1% |
| Hanover Park | 25 | 14 | 78.6% | $158,000 | $168,500 | -6.2% |
| Midlothian | 25 | 18 | 38.9% | $157,500 | $117,750 | 33.8% |
| Orland Hills | 10 | 5 | 100% | $156,500 | $200,000 | -21.8% |
Alerts Sign-up