Real Estate Ray's Blog

Elk Grove Real Estate Update, 1/11/2021

     Elk Grove is a diverse city of over 170,000 residents just South of Sacramento. It has neighborhoods that vary in age with most of the older neighborhoods East of Highway 99.  The community has over 70 parks and many walkways throughout the city.  We are also fortunate to have Cosumnes River Preserve and the Stonelake Refuge just on our boundaries.  We have really enjoyed making Elk Grove our home since 1999. (My friends reasons for loving Elk Grove)

Elk Grove has had a very healthy real estate market over the last year.  Average prices are up 16.5% from December.  Home owners are happy.  It has been a very difficult year for home buyers, though.  There has been a lot of competition for the few homes that are available.  We have less than a two week inventory of homes available.  For context, a balanced market between buyers and sellers is generally considered three months so we have a very limited supply.

Elk Grove Real Estate update Dec 2020

Sellers have been able to get 102.7% of their listing price.  There have been 27 homes sold for less than their original sales price so sellers still need to price according to recent sales in their neighborhood.

With the pandemic continuing and interest rates so low, our market is likely not going to change for some time.  My guess is that as the Covid vaccines are administered homeowners will become more comfortable with listing their homes again.  Hopefully, that will create a more reasonable supply of listings again and a more balanced market.

If you need assistance either purchasing or selling a home, feel free to call me with any of your questions.  I would be glad to help.

View homes in Elk Grove

View Homes in Elk Grove, 55+ communities (if currently available)

December market update for the Laguna West, Lakeside and Stonelake areas

             eXp Realty of California, Inc

Raymond Henson, SRES, GRI, e-Pro

Past Client Testimonials   

3412 Babson Drive

Elk Grove, CA 95758

RayRHenson@gmail.com

916-698-8415

 

 

Comment balloon 10 commentsRaymond Henson, SRES, GRI • January 11 2021 11:57PM
Elk Grove Real Estate Update, 1/11/2021
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Elk Grove is a diverse city of over 170, 000 residents just South of Sacramento. It has neighborhoods that vary in age with most of the older neighborhoods East of Highway 99. The community has over 70 parks and many walkways throughout the… more
Laguna West, Lakeside, Stonelake Market Update, Dec 2020
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Laguna West, Lakeside and Stonelake Dec 2020 I include the neighborhoods of Laguna West, Lakeside and Stonelake together because they are very similar in style. Pricing was very strong over the last year, while inventory was way down. … more
West Elk Grove and Laguna Area Update for May 2020
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Elk Grove West of Highway 99 Elk Grove pricing has been holding up well year over year, but there has been a general down trend over the last few months (See links below for past month information). The median price for March and April,… more
West Elk Grove and Laguna Area Update, April 2020
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Elk Grove West of Hwy 99 View Homes in West Elk Grove View Homes in Heritage Lakeside and Glenbrooke (55+ Communities) We were off to a very strong start in Elk Grove this year prior to the Covid 19 pandemic. April pricing held up in… more
Elk Grove, Sacramento and the Real Estate Market
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Elk Grove March 2020 vs. March 2019 VIEW CURRENT HOMES FOR SALE IN ELK GROVE VIEW CURRENT HOMES FOR SALE IN LAGUNA WEST LAKESIDE AND STONELAKE Elk Grove These charts show sold homes that went into contract early in the year, mostly January… more
Strength of the Economy Is Surprising the Experts - But, Not the REAL…
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I share the optimism displayed in Debe Maxwell, CRS post. I don't have a crystal ball, but it sure does seem like our economy is doing well and should continue to do so. Those that have purchased a home in the past few years have done very well. … more