Let's take a look at how our Elk Grove Real Estate Market is fairing 3/4s of the way through 2010 - September 2010.
This graph represents all 3 zip code areas which comprise the Elk Grove real estate market - 95624, 95757 and 95758. It shows the comparison between active listings, pending listings and sales for each month from July 2009 through September 2010. As you can see pending sales have been going up the past few months and are at the highest number for the year...Active listings are also up, by approximately 9% - so more inventory to choose from - while closed sales are actually down a bit again. This may be caused by the number of Elk Grove short sales tht are currently in the market.
This next graph shows the average dollar per square foot in the Elk Grove area. We have been holding pretty steady between $110 and $120 per square foot for over the past year.
And here's the months on inventory for the Elk Grove area - we are up to 3.1 months of inventory in Elk Grove.
Now let's compare the Elk Grove REO listings. This graph is for the REO inventory or bank owned listings only in the Elk Grove area - again 95624, 95757 and 95758. Elk Grove foreclosure inventory (REO listings) is also increasing, while both pendings and solds have decreased the past couple of months.
Lastly here is what is happening with our Elk Grove short sale listings. Over the past few months, sales of Elk Grove Short Sales have been increasing.
So what does this mean to you...
If you are an Elk Grove buyer, there is still plenty of inventory out there. If you are looking at the REO or bank owned homes you will have more competition on offers. Elk Grove short sales and regular resales seem to have less competition, so you might want to take a close look at these also. Interest rates are at all time low, prices are very affordable and inventory has risen. NOW is the time to get out there and find your new home. For more information about buying an Elk Grove home, call us today at (916) 405-5765 or send email to Lori@ModeandDurhaM.com
If you are an Elk Grove seller, because of the increase in inventory you must make certain that your home is priced right and that it shows very well. Homes are selling...you just must make sure that your home is positioned to be the next to sell. If you would like a FREE Market Analysis on your hone, call us today at (916) 230-0371 or send email to Lori@ModeandDurhaM.com.
For information on buying an REO or bank owned home, make sure to check out Foreclosures or Bank Ownes Homes - Top 10 Things Buyers Need to Know
For information on buying an Elk Grove Short Sale listing, make sure to check out Short Sales - Top 10 Things Buyers Need to Know
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For more information on the Elk Grove Real Estate Market, make sure to check out our website at www.AllElkGroveHomes.com.
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