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Elk Grove Market Inventory is lowest in 5 years!

By
Real Estate Agent with The Mode Real Estate Group DRE # 00935148

It is unbelievable that this is not all over our local news!  Our inventory of homes for sale in Elk Grove CA is at a 5 year low!

With less than 200 homes currently on the market in the 3 zip codes of Elk Grove - 95624, 95757 and 95758 - our inventory is down more than 85% from 5 years ago and 67% from just 1 year ago.  And with 385 pending sales at the end of March, 2012, our pending sales are UP 175% from 2007.  This means we now have less than 1 month of inventory in Elk Grove!

Elk Grove housing market inventory graph

What does this mean? We are getting multiple offers on all of our Elk Grove listings!  We have had as many as 15 offers on one of our recent listings!  If you are a homeowner thinking of selling your home in the Elk Grove area, call us today to take advantage of the current low inventory.  We have buyers waiting to purchase homes in all 3 Elk Grove zip codes! Get more information on Elk Grove home values now! Or call us at (916) 405-5737 to get your FREE home valuation completed! 

 

 

 

Posted by

Lori Mode

Lori Mode, Keller Williams Realty - Elk Grove

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Lori Mode and Bruce Durham, Elk Grove agents

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About the author: The above Real Estate information was provided by Lori Mode.  Lori can be reached via email at Lori@ModeREGroup.com or by phone at 916-405-5737. Lori has helped people move in and out of Elk Grove and surrounding Sacramento areas for the last 37 years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

Comments (5)

Linda Urbick
RealtyOne Group - San Ramon, CA
Selling San Ramon Valley - 925-786-5132

We have the same story here in the East Bay. More buyers than listings. Who knew the market would turn so fast.

Apr 10, 2012 04:11 AM
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

Hi Lori,

The turn in our market has been amazing.   I am as perplexed as you as to why the news is not all over this.  Multiple offers everywhere, more buyers than available homes and we are seeing an uptick in values for some neighborhoods.  I am happy for so many parts of our county.  Homeowners have waited a long time for this.

Apr 10, 2012 06:59 AM
Lori Mode
The Mode Real Estate Group - Elk Grove, CA
Real Estate Made Simple

Linda - it seems like it turned quickly on the other end of this also!  I remember in 2006, one day it just seemed like the phone stopped ringing.  Now the amount of buyer calls alone is amazing!

 

Cathy - we have seen an uptick in values for some of our Elk Grove neighborhoods also.  I actually am about to close escrow on one that the last comparable was $356,000 and we wrote our offer at $375,000 because of multiple offers; our offer was accepted and it actually appraised!

Apr 10, 2012 10:31 AM
Diane Lynch
Realty Executives Premiere - Warrenville, IL
Real Estate Broker

Wow that is amazing that your inventory is so low, we still have a lot of inventory here, but multiple offers abound on the lower priced properties....feels like 2005 at half prices!

Apr 10, 2012 02:01 PM
Bob & Leilani Souza
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments

Just wanted to stop by and let you know about an upcoming AR MeetUp in Roseville:

Sacramento Area ActiveRain MeetUp #3 - Roseville, CA - Friday, 4/20/12 (3pm)

Leilani

Apr 12, 2012 05:09 PM