The Elgin-area housing market recorded a 7 percent increase in activity in 2009, surpassing the performance of the metropolitan Chicago real estate market as a whole, which recorded a 1.5 percent sales gain. Home sales in the Elgin area were up from 2,459 in 2008 to 2,629 in 2009, with RE/MAX retaining its position as the home sales leader.
The Elgin market area includes the communities of Burlington, Carpentersville, East Dundee, Elgin, Genoa, Gilberts, Hampshire, Hanover Park, Lake Marion, Pingree Grove, Plato, Sleepy Hollow, South Elgin, Streamwood and West Dundee.
RE/MAX agents accounted for 668, or 25.4 percent, of all residential listings sold in the Elgin area during 2009 making them number one in that category, according to Midwest Real Estate Data, LLC (MRED). RE/MAX agents also led in buyer representation, assisting buyers with 639 transactions, or 24.3 percent.
RE/MAX also retained its leadership in total transactions closed in the Elgin area, representing either the buyer or seller in 1,307 transactions, or 24.9 percent. The next four firms in the total transaction category are Coldwell Banker (9.2 percent), Prudential, (7.3 percent), Century 21 (6.5 percent) and Baird & Warner (6.4 percent).
Since 1989, RE/MAX has led the metropolitan Chicago residential real estate market based on closed sales volume. In 2009, RE/MAX agents listed 18.9 percent of all homes sold in the seven-county Chicago real estate market, a larger percentage than any other real estate organization.
The metro Chicago real estate market experienced a meaningful rebound in home sales during 2009, especially during the second half of the year when sales increased 23 percent compared to the same period a year earlier.
The top five real estate organizations in the Elgin area during 2009, in terms of attached and detached residential listings sold, were RE/MAX with 668 (25.4 percent), Coldwell Banker with 285 (10.8 percent), Prudential with 176 (6.7 percent), Baird & Warner with 174 (6.6 percent) and Century 21 with 126 (4.8 percent). Data maintained by MRED may not reflect all real estate activity in a specific market area.
For the same time period, RE/MAX agents led the Elgin area in buyer representation, closing 639, or 24.3 percent, of all sales made of listed homes in 2009, topping Century 21 with 215 (8.2 percent), Prudential with 206 (7.8 percent), Coldwell Banker with 200 (7.6 percent) and Baird & Warner with 162 (6.2 percent). RE/MAX remained the market-share leader in buyer representation across the metropolitan Chicago real estate market during 2009, completing 16.4 percent of all buyer transactions.
