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!

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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!
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