And it’s time for our weekly Monday morning Elk Grove real estate market update – this is for the week of April 22nd through April 28th. Let’s see what has been happening in the Elk Grove real estate market this past week –
There were 32 new SOLD and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price being $249,500. The average days on the market is at 16 days! Our inventory is moving at a very rapid pace these days. The number of closed transactions held pretty steady from 34 last week to 32 this week.
52 new listings hit the market in Elk Grove CA last week, again pretty steady from last week’s high of 54. Of these 52 new listings, 12 or just about 25% are Elk Grove short sale homes. The number of distressed properties has really gone down over the past few months. The lowest priced new listing in Elk Grove is a short sale and a condo on Laguna Oaks in the 95758 zip code area and is priced at only $99,000 while the highest priced new listing is a home on 11 acres located on Poppy Ridge Road and is listed at $1,950,000.
And our pending sales are back up! 71 listings went pending with the median price being $255,000 and the average days on the market being 14 days! Our pendings cannot keep exceeding our new listings the way it has….we will have no inventory! At the end of March 2013, we had only 3 weeks of inventory in the Elk Grove area.
Our inventory in Elk Grove is at a 6 year low! Homes are selling quickly and often times for over the list price with multiple offers. Some homeowners who thought they were upside down in their homes have called us recently to discover they actually have equity now! In 2012 we hit bottom! So, if you’re thinking about selling your home in Elk Grove this spring, but think that you should wait until summer, think again!
The market shows no sign of slowing down. Listing sooner than later is the smart play.
How would you like 10 – 20 buyers competing for your home? Take advantage of this RED HOT Elk Grove real estate market! Check back next week for our weekly 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! And don’t forget to stop by our booth at Elk Grove’s annual Western Festival this coming week!
Want to know your home’s value? Find out the value of your Elk Grove home now!
Use our quick and easy site to get an instant value for your home! For a more accurate value, or to talk about getting your home on the market, give us a call at 916-405-5737 today!