How is Elk Grove home inventory affect by price range? We all know by now that inventory is way, way down and I thought it would be interesting to take a look at how price range affects the inventory in Elk Grove, CA.
Take a look at the graphs below.
Elk Grove CA inventory level for the last 6 years - price range over $750,000 - currently 4 months of inventory
Elk Grove CA inventory level for the last 6 years - price range $500,000 - $750,000 - currently 1.9 months of inventory
Elk Grove CA inventory level for the last 6 years - price range $400,000 - $500,000 - currently 2 months of inventory
Elk Grove CA inventory level for the last 6 years - price range $300,000 - $400,000 - currently .9 months of inventory or less than 1 month!
Elk Grove CA inventory level for the last 6 years - price range $200,000 - $300,000 - currently .6 months of inventory or approximately 2.5 weeks!
Elk Grove CA inventory level for the past 6 years - price range under $200,0000 - currently .5 months of inventory or 2 weeks!
So what does this mean? It means things are crazy right now! We are receiving multiple offers on our listings in regardless of price range! Keep in mind that inventory levels under 3 months reflect a true Seller's market, 3 to 6 months is a balanced market and over 6 months is a Buyer's market. Only over $750,000 are we in a balanced market! All other price ranges reflect a Seller's market. It means that now is a great time to sell your home! While inventory is low and we have many, many more buyers than we have houses to sell them, sellers are getting top dollar in a short amount of time!
To find out the current market value of your home, call us today at (916) 405-5737 or go to www.FindaHomeinElkGrove.com/sell to get more information!
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