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Elk Grove Real Estate Monday Morning Market Update

Elk Grove real estate market is red hot 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!

Search all Elk Grove homes now!

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Register on our Elk Grove website to Start your Home Search Today

www.FindaHomeinElkGrove.com

Why use our Elk Grove Find a Home site to start your search?  Here you will be able to customize your search criteria and instantly see what is active on the market that could fit what you are looking for.  The majority of people today will start their new home search online.  That is the preferred method, being that you can search and get a good idea of what is available, while in the comfort of your home.

You can also set up alerts.  This means, if a home comes on the market that matches your specific search criteria, it will send you an alert.  You will want to check those first so if the home is something you want to make an offer on, we can be the first!

There are a few phases one will go through on the path to a new home.  First is the search phase.  Where you start looking around on the internet at what is on the market in Elk Grove.  You may also start thinking about who you will want to help you with the sale and purchase of this new home.  This is when your Elk Grove Realtor comes into the picture.  We can start you off on a customized search, and begin sending you properties that you may like.  This way we can begin to get a feel for what your families needs and wants are.  You will also need to get Pre-Approved for a loan.  This is different than getting Pre-Qualified.  When you are Pre-Approved, there is not wait time to make an offer.  This market demands that you make an offer as soon as the property lists, with a Pre-Approval, and clear terms as to what you are offering.  Sellers are getting multiple offers on their homes, and are apt to take the one that can fund the quickest!  If you are only Pre-Qualified, you are going to need to take the additional steps and time to get yourself Pre-Approved.  We have lenders we can recomend!

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You can also click here for a tutorial from Lori Mode herself on using our website!

Use the website as a stepping stone to your final destination, your new home!  Let us help you along the way.  You can also contact us with your many questions via the website.  Click on Get a Free Account at the top of the page.  First step is to register on our Elk Grove site!

 

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