Elgin Home Sizes Shrink in October as Prices Dip

The median living area for homes sold in Elgin dropped to 1,784 square feet in October, a decline of 7.3% compared to the previous month when the median was 1,924 square feet. This shift marks a notable change in the types of properties closing in the market, as ALEX Intelligence tracks rolling trends in home dimensions against sales volume. Over the trailing twelve months, the data shows that while the median price per square foot rose to $158, the overall footprint of homes sold has contracted. In October, 28 closed sales were recorded with a median close price of $279,000. The reduction in average size coincides with a slight dip in the median closing price, which fell 2.6% from the prior period to $279,000. This trend toward smaller homes continues a pattern observed over the last two years. Comparing October 2026 to October 2025, the median living area remained relatively stable at -0.1%, but the current month's sharp drop from September suggests a specific shift in buyer demand or inventory availability for larger floor plans during this period. ALEX Intelligence analyzed the size-band shifts across these sales to determine that buyers are currently favoring more compact layouts. The median price per square foot increased by 3.9% month-over-month, indicating that while homes are getting smaller on average, the cost per unit of space is rising. This dynamic suggests a market where efficiency in square footage is becoming a primary driver for recent transactions. Want to see this home? Call or text George at 713.918.9951 for a private showing. 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