Are you thinking of selling a home in Elk Grove that will fall in the price range of $300, 000 and $400,000?
It's important that you understand what is going on in the Elk Grove Real Estate Market as a whole. It's also important you understand what is going on specifically with Elk Grove home inventory in your suggested price range.
Understanding what is happening in your segment of the Elk Grove real estate market, will help you make the best decision possible in regard to selling your Elk Grove home.
Elk Grove as a whole has seen a jump in inventory over the last 6 months. The light green bar below is the Elk Grove housing inventory and the dart green bar represents the buyer demand. The Elk Grove home inventory has creeped up since about March of 2013.
This chart includes all single family homes in Elk Grove.
If we just look at homes in Elk Grove that sold or are for sale between $300,000 and $400,000, we see the same pattern of growth in inventory. The chart below represents what homes are doing in the $300,000 and $400,000 range.
If we compare the two graphs, you will see that in September 2013 we had 310 homes for sale in the three zip codes of Elk Grove. It's important to note 166 of those home for sale fall into the $300,000 and $400,000 category. That's about 53% of our entire home inventory in Elk Grove falls in the price range of $300,000 and $400,000.
What does this mean to you if you are thinking of selling your Elk Grove home? You have a lot of competition in that price range right now. The buyer demand is beginning to level out, if not drop. More and more homes are coming on the market in this price range.
You are less likely to get an all cash investor in this price range. In past months cash investors helped to push up our home prices in Elk Grove. This price range sees less interest from that buyer group. This means less buyers looking at your home who can over pay and close quickly. All cash investors don't have to get an appraisal to tell them what they can pay for the home. So whether the home appraises or not, it doesn't impact their ability to close the deal.
It will become more an more important that you pick an Elk Grove Real Estate Agent who knows how to market your home well. The most aggressive listing price possible and a beefy marketing plan will make sure you get TOP DOLLAR for your Elk Grove home!
If you want a detailed market analysis of your Elk Grove home, please request one through our website or call Erin at (916) 585-3858. Get the same information that lending institutions and appraisers use to evaluate home values and prices along with a professional evaluation so that you know right now what your home is worth today!
If you are thinking of selling your Elk Grove home between $300,000 and $400,000, I want to provide you the information you need to make your decision to sell your home! Call me! This Elk Grove Real Estate Agent is here to help!
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