Tag Archives: Short Sale in Elk Grove CA

Elk Grove Real Estate Report ~ Week of October 28th

 The Elk Grove Real Estate Report

It’s Halloween Week!  Hope you are all getting into the spirit of this week!  I know we are at The Mode and Durham Team!  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 21st through October 27th.

There were  only 25 SOLD and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price actually going down to $275,000; this could be good news for buyers, but make sure to keep reading….the average days on the market for Elk Grove sold homes is way down this week from last week at only 26 days!  The Elk Grove housing trends have been changing weekly over the past several months, so it is important to stay on top of them.

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 3 weeks ago, we had 65 new listings hit the market, however this week new listings are down again with only 36 new listings on the market in Elk Grove.  Distressed properties have been almost non-existent some weeks recently; this week we have only 2 new short sale listings 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 2 bedroom condominium in the 95624 zip code area on El Mirador  priced at only $71,500.  The highest priced new listing is a 4 bedroom home in West Laguna on Herbon Way for $499,000.

Elk Grove pending sales are definitely still going strong!  This last week we had 50 homes go pending in the 3 Elk Grove zip codes.  Once again pending listings are outpacing new listings!  This means less inventory for buyers to choose from.  The median price for the pending sales is $289,200  while the average days on the market was 28 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 http://www.findahomeinelkgrove.com/sell or call us today at (916) 405-5737.  Remember Elk Grove home inventory is still low!  The Mode and Durham Team are ready to sell your home too!

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!

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The Elk Grove Real Estate Report ~ Week of October 7th

The Elk Grove Real Estate Report

Autumn is here and we just had our annual Giant Pumpkin Festival giant pumpkins at Elk Grove Regional Park this past weekend!   It’s getting cooler and cooler each day it seems.  It’s also time for our weekly Elk Grove real estate market update – this is for the week of September 29th through October 6th. Let’s see what has been happening in the Elk Grove real estate market this past week –

There were 50 SOLD and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price being $283,500. The average days on the market for Elk Grove sold homes is 30 days, just a little bit longer than just a week ago. This market is still considered a seller’s market, which is great news for homeowners!  As long as a home is PRICED RIGHT, it will sell quickly and most of the time with multiple offers!

Elk Grove new listings have been picking up a bit for the past few weeks and this week we had 58 new listings hit the market in Elk Grove CA last week. Of these 58 new listings, 8 of these or just under 15% are Elk Grove short sale homes.   Short Sales in Elk Grove are certainly not as prevelant as they once were as there was a time that over 45% of our listings in Elk Grove were short sales!  The lowest priced new listing in Elk Grove is a 1 bedroom condo and is located in Laguna on Coney Island and it is priced at $118,000, while the highest priced new listing is a custom 4 bedroom country home on over an acre in the Laguna Trails neighborhood located on Rancho Drive, priced at $639,000.

Elk Grove pending sales are still going strong!  42 Elk Grove listings went pending this past week with the median price holding steady at $320,495 and the average days on the market being 35 days!

Take a look at this graph…you can see that pending sales have held pretty steady the past few months, while inventory has been going up and sales down just a bit.

Elk_Grove_Market_Trends_for_September_2013

What does this mean to buyers and sellers in Elk Grove?  Buyers have more to choose from than they have in the past few months!  More buyers are getting offers accepted!  Prices are still very affordable while interest rates are still great!  And sellers, as long as they price their homes correctly, stage them well and their agents market them properly they will sell quickly and in a short amount of time!

Our inventory in Elk Grove is still 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 still this year, now is the time! Rates are still very low and there are still a lot of pent up demand out there from buyers! If you have been looking at Zillow for your home’s value, call us today at (916) 405-5737. You may be very surprised at your home’s true value!

The market shows no sign of slowing down. Listing sooner than later is the smart play.

 

Contact us today at (916) 405-5737 to find out the current value of your home!

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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