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Elk Grove Real Estate Market Report

Elk Grove Real Estate Market Report for zip codes 95624, 95757 and 95758 for February 2016

The data on this page is consolidated from multiple sources and includes current Elk Grove Real Estate  listings, recent sales for 95624, 95757 and 95758 Elk Grove, CA zip codes and more!  Whether you’re a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions.

Call or email The Mode and Durham Team to discuss how this information can benefit you!  (916) 405-5737.

Elk Grove Real Estate Active Listings – 233

Elk Grove Real Estate Foreclosure Listings – 4

Elk Grove Real Estate Short Sale Listings – 16

Elk Grove Real Estate Single Family Homes for Sale – 233

Elk Grove Real Estate Condos for Sale – 7

 

Market Inventory Trends

The number of active listings in Elk Grove  (95624, 95757 and 95758 decreased by 5.7 from the previous month and 12.1% from February 2015!  The number of pending listings in Elk Grove went up by 6% over the previous month!

Elk_Grove_market_inventory_February_2016_www.modeanddurhamteam

The number of closed sales increased by 30% over January,  2015, but decreased by 7.7% over February 2015.

Elk_Grove_average_days_on_market_www.ModeandDurhamTeam

Although the average days on the market increased to 44 days in February 2016, it is still lower than 56 days in February 2015.  This is still significantly shorter than the national average.

Elk_Grove_Real_Estate_months_of_inventory_February_2016

Our months of inventory here in Elk Grove decreased to 1.5 months  (definitely still a seller’s market) in February 2016 and it’s about the same as it was in February 2015.

The average sales price in Elk Grove increased in February to $370,000!  This is 5% higher than February 2015!

It’s still a great time to buy a home in Elk Grove!  Prices are stable and interest rates are still at historic lows!  Don’t miss out…call us today!

If you would like to find out how much your Elk Grove home is worth, check out http://www.EGHomeValue.com or call us at (916) 405-5737.   

 

 

 

Elk Grove Real Estate Market Report for zip codes 95624, 95757 and 95758 for January 2016

The data on this page is consolidated from multiple sources and includes current Elk Grove Real Estate  listings, recent sales for 95624, 95757 and 95758 Elk Grove, CA zip codes and more!  Whether you’re a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions.

Call or email The Mode and Durham Team to discuss how this information can benefit you!  (916) 405-5737.

Elk Grove Real Estate Active Listings – 247

Elk Grove Real Estate Foreclosure Listings – 5

Elk Grove Real Estate Short Sale Listings – 5

Elk Grove Real Estate Single Family Homes for Sale – 237

Elk Grove Real Estate Condos for Sale – 6

 

Market Inventory Trends

The number of active listings in Elk Grove  (95624, 95757 and 95758 increased by 2.0%  from the previous month and 19.8% from January 2015!  The number of pending listings in Elk Grove went up by 56.3% over the previous month!

Elk Grove market statistics January 2016

The number of closed sales decreased by 51% over the December 2015, but only 4% over January 2015.

Elk Grove Average Days on the Market January 2016

The average days on the market was 63 days in January 2015 and it dropped to 36 days in January 2016.  This is significantly shorter than the national average.

Elk Grove months on housing inventory

Our months of inventory here in Elk Grove did increase to 2.2 months (still considered a seller’s market) in January 2016 and it’s still lower than the 2.6 months in January 2015.

 

And the average sales price in Elk Grove has remained at $362,000 for 3 straight months.  This is 8.4% higher than January 2015!

It’s still a great time to buy a home in Elk Grove!  Prices are stable and interest rates are still at historic lows!  Don’t miss out…call us today!

If you would like to find out how much your Elk Grove home is worth, check out http://www.EGHomeValue.com or call us at (916) 405-5737.   

The Mode and Durham Team have been selling real estate in the Sacramento/Elk Grove area for over 25 years and are here to assist with your home purchase or sale!

Houses for sale in Elk Grove, CA

To find the value of your Sacramento/Elk Grove home make sure to check out http://www.EGHomeValue.com to get your home value via the internet

 

 

 

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Elk Grove Real Estate Market Predictions for 2014 – Part 2

This is Part 2 of Our Elk Grove Real Estate Market Predictions for 2014     psychic-looking-into-crystal-ball

2013…gone already?  It certainly flew by!  It was a great year in the Elk Grove real estate market, with our home prices climbing 27% year over year.  Inventory was down to start the year, and then as homeowners realized they had more equity than they realized, inventory went up.  We ended the year with still only 2.5 months of inventory on the market in the Elk Grove real estate market.

So what’s up for the 2014 real estate market in Elk Grove, CA?

– See more at: http://activerain.com/blogsview/4290079/elk-grove-real-estate-market-predictions-for-2014-part-1

To read Part 1

Interest Rates will continue their march upward

Most experts are calling for an increase in mortgage interest rates in 2014.  They have already started to increase hovering around 5% currently and no one seems sure of where they will go.  My prediction is that we end 2014 close to 6%, making the beginning of the year a great time for buyers to purchase a home in the Elk Grove real estate market.

Home Prices will continue to increase

I don’t believe that we will see prices surge as they did in 2013 however I do believe we will still see modest increases in 2014.  I think 2014 will be a year with solid, steady growth, which will be good for both buyers and sellers.  I believe we will see prices increase by somewhere between 5% and 10% in Elk Grove in 2014.

2014 will be the year of the Move UP or Move DOWN buyer

With Elk Grove homeowners discovering they have more equity in their homes than they believed they have, they will decide that 2014 is the year to make the move that they have been wanting to make.   I believe that we will see many, many more homeowners deciding that 2014 is the time to make this move.  Either moving up or moving down requires coordination on the part of a great real estate agent and a great lender so that the homeowner does not have to make 2 moves in order to accomplish this.  We are looking forward to helping Elk Grove homeowners achieve this dream in 2014!

It will also be the year of the Come Back buyer

We have come through the struggles of the Short Sale Market and many homeowners were saved from foreclosure by completing a short sale on their existing home.  Now it’s been a couple of years and many of these homeowners have been able to rebuild their lives and their credit.  We will see many of these homeowners come back into the real estate market in Elk Grove in the coming year!  We look forward to helping these buyers purchase their next home also.

 

 

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