I normally do monthly market updates on the Elk Grove real estate market, but thought it appropriate this month to give you an update on the Sacramento area as a whole and then broken down into regions, starting with Elk Grove of course.

Currently, we have 799 active single family home listings on the market in the Elk Grove area (zip codes - 95624,95757 & 95758), of which 86 are Bank Owned or REO listings, 190 are Short Sale listings, 413 are Short Sale Contingent, leaving 110 "regular" listings.  August 2008, we had 1191 active listings on the market in the Elk Grove area, so are listing inventory is down over 32% from this time last year! We currently have 512 pending sales in Elk Grove and 259 closed sales last month!  And the median sales price in Elk Grove last month was $230,000, the same as it was in June 2009, but down from $270,000 in July 2008.

For more information on the Elk Grove real estate market, make sure to check out Current Elk Grove Market...where are we at today?

Elk Grove Recently Sold Homes

Now on to the greater Sacramento area - these statistics are from today, August 10th

Carmichael

• Active - 210 (19 REO, 32 Short Sale, 40 Short Sale Contingent)
• Pending - 69
• July Sold - 56
• Median Sales Price - $231,025

Citrus Heights (zip codes - 95610 & 95621)

• Active - 238 (29 REO, 48 Short Sale, 119 Short Sale Contingent)
• Pending - 168 Pending
• July Sold - 92
• Median Sales Price - $180,000

Fair Oaks

• Active - 157 (17 REO, 24 Short Sale, 25 Short Sale Contingent)
• Pending - 63
• July Sold - 30
• Median Sales Price - $265,750

Folsom

• Active - 284 (20 REO, 46 Short Sale, 56 Short Sale Contingent)
• Pending - 96
•  July Sold - 69
• Median Sales Price - $375,000

Galt

• Active - 123 (24 REO, 24 Short Sale, 42 Short Sale Contingent)
• Pending - 64
• July Sold - 40
• Median Sales Price - $156,500

Rancho Cordova (95670 & 95742)

• Active - 262 (34 REO, 57 Short Sale, 108 Short Sale Contingent)
• Pending - 130
• July Sold - 77
• Median Sales Price - $240,000

South Sacramento (zip codes-95822, 95823, 95824, 95828 and 95829) -

• Active - 853  (100 REO, 207 Short Sale & 389 Short Sale Contingent)
• Pending - 612
• July Sold - 335
• Median Sales Price - $125,000

Sacramento - Downtown, Midtown, East Sac, Land Park & Curtis Park (zip codes - 95811, 95814, 95816, 95817, 95818 and 95819)

• Active - 298 (12 REO, 36 Short Sale, 40 Short Sale Contingent)
• Pending - 89
• July Sold - 85
• Median Sales Price - $333,000

So what does all this mean to home buyers & investors?  Is there more opportunity to come?  Do we have a shadow inventory out there.  For answers to these questions, check out Rental Housing Association Real Estate Investor Forum presentation. 

For more information, contact Lori Mode of Keller Williams Realty, (916) 405-5766 or go to www.AllElkGroveHomes.com.

If you are an investor, make sure to check out our upcoming Sacramento Investor Boot Camp and Foreclosure Tour, coming on Saturday, August 15th.  Go to www.SacramentoInvestorBootCamp.com.

To check the value of your  Elk Grove home, go to www.AllElkGroveHomes.com.

If you are a first time homebuyer, ask your agent about the CAR Mortgage Protection program for first time homebuyers!

 Search all Sacramento homes here!

Lori Mode & Bruce Durham, Keller Williams Realty,  in Elk Grove, CA

                                                    www.AllElkGroveHomes.com