Elk Grove Real Estate Report
It’s time once again for the Mode and Durham Team’s weekly Elk Grove Real Estate Report! We bring you updated information on the Elk Grove Real Estate Market each and every week. If you watch for our Elk Grove Real Estate Report each week, you can spot trends as they happen. This one is for the week of October 14th through October 20th.
There were 46 SOLD and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price going up once again to $297,499. The average days on the market for Elk Grove sold homes is up this week to the highest it has been in a long time; it is to 50 days on the market. The Elk Grove housing trends have been changing weekly over the past several months, so it is important to stay on top of them. We do this for you each week with our Elk Grove Real Estate Report!
If you have been following our Elk Grove Real Estate Report, you will know that new listings had been picking up for the past several weeks. In fact 2 weeks ago, we had 65 new listings hit the market, however this week it is down to only 43 new listings on the market in Elk Grove. Distressed properties have been almost nonexistent some weeks recently; this week we have 8 new listings which are short sales and it looks like no new REO or bank owned listings! The lowest priced new listing in Elk Grove is a great buy on a 4 bedroom short sale on Elk Ridge Way priced at only $152,500. The highest priced new listing is a 2200 square foot home on over 11 acres on Poppyridge Way in 95757 and is priced at over $2,000,000!
Elk Grove pending sales are definitely still going strong! Two week ago, we had only 43 Elk Grove listings go pending, and this past week we had 69 homes go pending! The median price for the pending sales is $299,250 while the average days on the market was 29 days!
So, in looking at the market trends in Elk Grove CA housing, we can tell that the market is very, very strong in Elk Grove. We currently have 1.5 months of inventory in most neighborhoods in Elk Grove, while if you look at Sacramento County as a whole we are close to 2.5 months of inventory. There are more homes on the market for buyers to choose from, so sellers must price their homes so that buyers see value, stage them well and make sure their Realtor is marketing aggressively! It is a great time for Elk Grove home sellers as we are selling our Elk Grove listings in under 30 days!
If you are thinking of selling your Elk Grove home and would like a FREE market analysis showing you the current value of your home, visit our website at www.FindaHomeinElkGrove.com/sell or call us today at (916) 405-5737.
And if you are thinking of buying a home and would like to get started with a FREE no obligation consultation, call us today at (916) 405-5765 or start searching now!
Make sure to check back next Tuesday for our next edition of the Elk Grove Real Estate Report!