South Elgin home prices fall in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in South Elgin fell by $34,500 while total sales increased by 15.2%, according to

From July through September of 2020, there were 91 homes sold, with a median sale price of $240,000 - a 12.6% decrease over the $274,500 median sale price for the same period of the previous year. There were 79 homes sold in South Elgin in the third quarter of 2019.

The median sales tax in South Elgin for the most recent year with available data, 2019, was $6,464, approximately 2.7% of the median home sale price for the third quarter of 2020.

The following table compares South Elgin to other Kane County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Maple Park11922.2%$252,000$239,0005.4%
Pingree Grove5159-13.6%$248,000$222,50011.5%
South Elgin917915.2%$240,000$274,500-12.6%
East Dundee292326.1%$195,000$195,500-0.3%

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