The Elk Grove Real Estate Report ~ Week of November 25th

Elk Grove Real Estate Report

It’s Thanksgiving week!

Time to stop and let others know how grateful we are for them!  And it’s the time of year when we stop and give thanks for all we have!  It’s also 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 start to happen.  This one is for the week of November 18th through November 24th.

So we are getting into the real holiday season and so many people, including real estate agents, think the market slows down this time of year!  Let’s take a look and see if it is true.  There were 32 SOLD (this is up by 10% over the past couple of weeks) and closed listings in the 3 zip codes of Elk Grove (95624, 95757 and 95758) with the median sales price actually going up quite a bit to $325,000. The average days on the market for Elk Grove sold homes is holding pretty steady this week from last week at only 33 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 started to pick up.  In fact a few weeks ago, we had 65 new listings hit the market, however this week new listings are down once again with only 35 new listings on the market in Elk Grove.  This is good news for Elk Grove home sellers!  The lowest priced new listing in Elk Grove is a great buy on a 2 bedroom condominium in the West Laguna area on Coney Island priced at only $150,000.  The highest priced new listing is a 5 bedroom, over 4500 square foot home in the 95757 zip code area on Springview Way for $549,900.

Elk Grove pending sales are definitely still going strong!  This last week we had 51 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 $294,000  while the average days on the market was 34 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!

 

 

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