Elgin Market Heat Score: What the Data Says Today

Is a home in Elgin selling for less but moving faster than last year? In September 2026, the median closing price was $284,249 across 46 closed sales, down 8.1% from the same month last year, yet homes are spending significantly less time on the market. ALEX Intelligence calculated a composite Market Heat Score for Elgin this month using four weighted factors: median days on market (30%), sale-to-list price ratio (30%), inventory levels (20%), and the share of listings with price reductions (20%). The calculation uses data from the last 12 months to smooth out monthly volatility. The speed of sales is a key driver here. Median days on market dropped to 60 days, a 20% improvement compared to September 2025. Simultaneously, the median close-to-original list ratio rose to 95.9%, indicating buyers are offering closer to asking prices than they were a year ago. However, inventory remains elevated with 5 months of supply, which typically tempers price growth. While the median price per square foot fell to $152, down 17.4% from last year, the combination of faster turnover and improved offer ratios suggests a market that is stabilizing rather than cooling further. The heat score reflects this dynamic: prices are softer, but demand for available inventory is picking up pace compared to the previous year. This analysis relies on 46 closed sales in September 2026 and rolling data from the prior 12 months. It does not predict future price movements but quantifies current market conditions based on observed transaction activity. Want more detail on Elgin? Ask George for the full neighborhood report. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog MIT, Nvidia, Google & IBM-Trained. Cross Domain-Expert: Quantum, AI, Ethics, Sovereignty, Intelligence, Philanthropy. Solepoint Planning. VUI AI Cloud Architect. AI Certifications Development. Quant/AI Instructor. Castor Venture Club Member. Associate Broker. George Arnold Alexander III, MPA Director, ALEX Companies Associate Broker, Alexander Tiffany Southwest, LLC dba ALEX.realestate, et.al. Texas License #574878-B · Broker License #565194-BB Broker, ALEX Real Estate · North Carolina License #367733 Independent Broker, ALEX Real Estate · Colorado License #II.100112456 [email protected] · +1 713.918.9951