In May 2017, there were 28 homes sold, with a median sale price of $163,000 - a 19.9% increase over the $136,000 median sale price for the same period of the previous year. There were 28 homes sold in Elgin in May 2016, as well.
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 May 2017:
| City | May 2017 Home Sales | May 2016 Home Sales | % change (Total Home Sales) | May 2017 Median Sales Price | May 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Melrose Park | 29 | 19 | 52.6% | $172,500 | $120,000 | 43.8% |
| Wheeling | 61 | 41 | 48.8% | $172,000 | $162,000 | 6.2% |
| Oak Lawn | 95 | 84 | 13.1% | $172,000 | $158,750 | 8.3% |
| Burbank | 34 | 30 | 13.3% | $170,250 | $172,500 | -1.3% |
| Broadview | 13 | 10 | 30% | $165,000 | $109,250 | 51% |
| Elgin | 28 | 28 | 0% | $163,000 | $136,000 | 19.9% |
| Hillside | 9 | 8 | 12.5% | $160,000 | $88,750 | 80.3% |
| Evergreen Park | 35 | 29 | 20.7% | $158,500 | $163,000 | -2.8% |
| Palos Hills | 29 | 28 | 3.6% | $153,500 | $167,000 | -8.1% |
| Summit | 17 | 10 | 70% | $153,000 | $151,500 | 1% |
| Cicero | 52 | 60 | -13.3% | $151,000 | $110,750 | 36.3% |
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