elk grove: Elk Grove Real Estate Market Update, January, 2023 - 01/09/23 12:34 PM
     In my December report last year, I noted, "It is interesting to note that in the last seven months preceding December, the median price has not changed that much...The median price took a sizable jump in December to $640,000.  It looks like the spring buying season might be starting early this year."  That was the case until April.  The market was hot and we hit an average price of $703,000 in April, then the market changed on a dime.  The Fed started raising rates quickly, inventories started to rise and prices started falling.
     What is the old saying about stock … (34 comments)

elk grove: Elk Grove Real Estate Market Update, It's Going to be a Bumpy Ride - 11/05/22 09:40 AM
The Fed just raised rates once again with a promise of more to come.  Even safe assets are being hit hard.  Michael Murphy, the author of The New World Investor blog, says, "The 10-year US Treasury bond is on pace for its worst year in history with a loss of 19.5%....This is THE risk-off asset.  Never in history, in an extreme draw down for stocks, have Treasurys, THE risk-off asset, gone down more than stocks-until now."  Stocks, bonds and Cryptocurrencies are all down.  I may not have a crystal ball when it comes to the housing market, but, to paraphrase the … (13 comments)

elk grove: Elk Grove Home for Sale, 5332 Coral Creek Way - 10/28/22 01:06 PM
This new Elk Grove listing, 5332 Coral Creek Way, just came on the market today.  It is a three bedroom, two bathroom, 1,273 square foot home.  It features new floor tile, new carpets, granite counter tops, Hunter Douglas shutters, a custom interior color scheme, a newer roof and a spacious backyard. 
The two backyard patios creates a perfect environment to entertain friends and family or just to sit back a relax.
There has been a pest inspection and all section one work (Section 1, in this case was a few areas of dry rot) has been completed. Most of the back three sides … (27 comments)

elk grove: New Listing-8943 Clancys Court, Elk Grove, 95624 - 10/10/22 10:48 AM
Welcome to 8943 Clancys Court!  This home, located in Old Elk Grove, is a three bedroom, 2 bathroom, 1,598 square foot home.  It has a large room full of light at the front of the home that would make a great office, den or fourth bedroom.
The previous owner was a tile contractor and installed beautiful tile floors in the kitchen, nook, entry and both bathrooms.  He also installed granite counter tops. 
   
One of the things I really love about Old Elk Grove is the large yards with mature landscaping.  You will love this yard!
   
There is a nice … (37 comments)

elk grove: Elk Grove Real Estate Market Update, September 2022 - 10/07/22 02:52 PM
Elk Grove Real Estate Market Update
We are barely holding on to yearly gains for our median and average prices in Elk Grove, but the average price per square foot is even for the year.  Sales volume is was down and days on market are up.  We hit a high in April of $703,000 for the average price of homes sold and then the Fed started raising rates.  Their goal was to slow the labor market down and bring down housing prices.  They have done a good job of driving our prices down in Elk Grove.   Our market is down 8.9% in … (13 comments)

elk grove: Fun Things to do Near Elk Grove-Wine Tasting - 10/01/22 04:24 PM
We are blessed to have some great wineries within a short distance from Elk Grove.  There are some fun place to go in Clarksburg, just West of Elk Grove on the Delta.  There is the Lodi area and, of course, there is the world famous Napa area less than two hours away.  We recently visited the Amador Wine Region.  With over 40 wineries to choose from in the area, there is a lot of variety.  We visited Jeff Renquist Wines,  Rombauer and Villa Toscano. 
Jeff Renquist Wines
We thoroughly enjoyed our time here.  The gentleman that poured us our wine was very friendly … (32 comments)

elk grove: Prices Down! Real Estate Market Update for Elk Grove, 9/14/2022 - 09/14/22 01:54 PM

The sales price of single family homes in Elk Grove is still up over the last year, but since the Fed started raising interest rates earlier this year, the average price of homes has dropped 7% from $703,000 to $654,000.  On Average, homeowners have lost $49,000 in a very short period of time.  It is clear that the Fed will be raising interest rates again at their next meeting.  They have made their strategy very clear.  It is too bad they did not take their mandate more seriously and address inflation much earlier instead of waiting until it was so entrenched. 
It … (23 comments)

elk grove: Real Estate Market Update for Elk Grove, CA 8/9/2022 - 08/09/22 10:58 AM
     We saw average prices fall 4.4% from May to June in  July's report.  It is good to see that our market has leveled off as average and median prices are just about the same from July to August as they were at the end of June.  Elk Grove, CA is still up 8% over the past year.   One statistic that jumps off the table is the number of sales last month, 116.  It is way down.  Continuous Days on Market is up quite a bit, but 21 days is still pretty quick to sell a home.  Interest rates have started … (14 comments)

elk grove: The Elk Grove Real Estate Market Has Changed - 07/20/22 09:41 AM
I am an optimist by nature, but our Elk Grove market has changed in a remarkably short time.
For a little perspective, active listings were at 124 on 5/8/22.  Active listings are at 244 as of today (all those green dots in the picture).  It is a 96.7 rise in inventory over a very short time.  The supply change has come with a price drop of just over 3% month over month.  While our current supply is not out of line with our historic supply numbers, our market has turned on a dime.  The change started when the Fed decided to tighten.
The … (34 comments)

elk grove: Elk Grove Real Estate Market Update, July 2022 - 07/09/22 01:15 PM
Real Estate Market Statistics for Elk Grove
This month we do have a few changes in the market.  Prices are up over the last year, but our sales volume is down quite a bit.  We are also showing a big move up for days on market, but we started at such a low number that we are still showing homes priced right selling quickly at 16 days.  The trend is something to watch, though.  It is also worth noting that median prices are down almost 3% since May (average prices are down 4.4%).  Potential home buyers will be happy to learn that … (16 comments)

elk grove: Sold-3412 Babson Drive - 06/11/22 02:32 PM
It was sold in four days, but the plan took almost ten years to play out.
This was our home for the past three years and a rental property for the 7 years prior.  We were not even in the market for a home when our neighbor knocked on our door and asked if I knew anyone that might be in the market for a home.  He had made two offers on two different short sale properties and both had been accepted.  After I found out his terms, which were outlined by the short sale lender, my wife and I decided to … (25 comments)

elk grove: Elk Grove Market Update for Elk Grove, CA. for June 2022 - 06/11/22 08:53 AM
Elk Grove Market Real Estate Market Update for June, 2022
We have higher interest rates, inflation at a multi-decade high, a stock market that has been correcting, cryptocurrencies have been falling and even the bond market is slipping.  I thought that all would have impacted out market more than it has.  Year over year, median and average prices were both up.  We did see the median price fall, month over month, fall from $685,000 to $670,000.  The average price of sold homes held solid at $703,000, though.
The days on market ticked up slightly and we do have just over a month of … (22 comments)

elk grove: North Laguna Creek Wildlife Area, Elk Grove - 05/22/22 05:57 PM
The North Laguna Creek Wildlife Area
We have driven past the trail hundreds of times.  It is a short walk from our current home and we always have wondered what we would find.
It really opens up into a large meadow area with quite a few oak trees, plenty of wild flowers and a few Eucalyptus Trees.
A little further along the path we ran into Laguna Creek, turtles and lots of birds.  This heron was stalking his dinner.
And look at all the sparrows zipping around the area.
And we were rewarded with a nice sunset.
It really is a nice area to hike, ride your … (34 comments)

elk grove: Elk Grove Real Estate Market Update, May 2022 - 05/08/22 07:45 PM
There has been a lot of discussion regarding higher interest rates slowing the real estate market.  I just do not see the evidence of it in the Elk Grove Market.
Elk Grove, April 2022
The median and average prices are up just over 23% for the year.  The median price is up from $644,000 in April or 6.3%.  The average price is up from $685,879 or 2.5%.  Either way, that is a big increase in pricing for one month.  As you can see, continuous days on market has changed a bit and buyers are not paying quite as much over asking price as … (22 comments)

elk grove: Elk Grove Market Update, March 2022 - 04/11/22 12:14 PM
Elk Grove continues to experience solid price growth.  The median home price is up 20.9%, year over year, and has risen 2.2% from February's $650,000 number.  Interest rates have not slowed the market down so far.  There has been a bit of an uptick in continuous days on market, but the overall number of days on the market is still low.  It makes sense as qualified buyers move quickly to purchase a new home to avoid even higher interest rates in the future.  This is very similar to what happened last year when prices rose very quickly in the first half … (41 comments)

elk grove: February Real Estate Market Update for Elk Grove, California - 03/08/22 12:28 PM
Elk Grove Real Estate Market Update
After taking a brief break in January, the median price has risen again in February to $650,000.  We are starting this year out much like we started last year with rising prices and a very limited supply of homes to purchase.  There are some real uncertainties in the housing market going forward with rising interest rates, rising inflation, including the rise in cost of fuel and the war that Russia just started.  These factors would generally slow the housing market, but it just does not seem to be happening.
Homeowners that purchased their home in the last … (14 comments)

elk grove: Shred Day at Dreaming Dog Brewery - 01/20/21 10:22 AM
Dreaming Dog Brewery will be hosting Shred Day in their parking lot.  All proceeds will benefit Runnin for Rhett, my favorite local charity.

 
When: Saturday, January 30, 2021, from 8 am-noon
Where: Dreaming Dog Brewery, 2501 W. Taron Ct, Elk Grove, CA
Cost: Shredding truck will be onsite, $10 – Small Box/Grocery Bag, $20 – Bankers Box. All proceeds from the event will fund R4R’s Youth Fitness Program.
 
If you want to enjoy Dreaming Dog Brewery's new fire pit and outside facilities,they will be open this Friday and Saturday.
     1/21-Buenos Aries Grill will be available serving food.
     1/22-they will be hosting the musical group Innersoul … (25 comments)

elk grove: Pickleball at the Oasis, Elk Grove - 01/06/21 09:54 AM
     We have some great new Pickleball courts here in Elk Grove at the new Oasis Park.  It is located at 8015 Poppy Ridge Rd., East of Bruceville road, just off Whitelock parkway.  There are six courts available and the courts do have lights.  We have played there several times.  The players are friendly, welcoming and competitive.
      
     There are also two new, well lit tennis courts to enjoy as well ( Brian England, if you ever make it to Elk Grove ).  The dog park is also open, but the main park is still closed.  The rest of … (10 comments)

elk grove: Seller Inspections - 01/04/21 02:31 PM
     In the Sacramento region, it is customary for buyers to do inspections after they have entered into contract.  Here are a few reasons sellers might consider doing the inspections upfront.
Set your home apart.  If all other characteristics are equal, you will be giving potential buyers knowledge about your house that is not available for competing homes. By disclosing everything you know and everything the inspectors found, you protect yourself from any claims that the buyer makes later and reduce the risk of a lawsuit. There will be less surprises that come up during the purchase process. If you wait … (19 comments)

elk grove: West Elk Grove and Laguna Area Update, April 2020 - 05/12/20 04:18 PM
    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 Elk Grove even considering that some of these sales occurred after the stay at home order was given.  April Median home prices were up 4.4% year over year and about $5,000 over March (See March Report 2020).  We could only show vacant homes over most of last month, but that order has lifted and … (15 comments)

 
Ray Henson, Retired Real Estate Agent (Retired)

Ray Henson

Retired Real Estate Agent

Goodyear, AZ

More about me…

Retired

Address: 15284 W. Piccadilly Rd., Goodyear, Arizona, 85395

Mobile: (916) 698-8414

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