It’s Monday morning and time for our weekly Elk Grove real estate market update – this is for the week of February 3rd through February 10th. Has our inventory in Elk Grove increased at all? Are prices increasing? Watch each week for updates here!
There were 20 new SOLD and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price increasing once again! This week it is up to $270,000, this is up $20,000 from just last week! The average days on the market is at 39 days, this is up from last week.
40 new listings hit the market in Elk Grove CA last week. Of these 40 new listings, 11 or just over 25% are Elk Grove short sale homes.
And the crazy thing is that 61 listings went pending with the median price being $255,768 and the average days on the market being only 18 days!
Our inventory in Elk Grove is at a 5 year low! Homes are selling quickly and often times for over the list price with multiple offers. I heard last week of 2 different listings that received almost 70 offers in the first week on the market. Some homeowners who thought they were upside down in their homes have called us recently to discover they actually have some equity now! In 2012 we hit bottom! So, if you’re thinking about selling your home in Elk Grove this winter, but think that you should wait until the spring market, think again!
The market shows no sign of slowing down. Listing sooner than later is the smart play.
How would you like 10 to 20 buyers competing for your home? Take advantage of this RED HOT Elk Grove real estate market! Check back next week for our Elk Grove real estate market update.
Contact us today at (916) 405-5737 to find out the current value of your home! We’d be glad to help!
Want to know your home’s value? Find out the value of your Elk Grove home now!