Elk Grove Real Estate Update, 1/11/2021

By
Real Estate Agent with eXp Realty of California, Inc. (lic. #01878277) DRE# 00949880

     Elk Grove is a diverse city of over 170,000 residents just South of Sacramento. It has neighborhoods that vary in age with most of the older neighborhoods East of Highway 99.  The community has over 70 parks and many walkways throughout the city.  We are also fortunate to have Cosumnes River Preserve and the Stonelake Refuge just on our boundaries.  We have really enjoyed making Elk Grove our home since 1999. (My friends reasons for loving Elk Grove)

Elk Grove has had a very healthy real estate market over the last year.  Average prices are up 16.5% from December.  Home owners are happy.  It has been a very difficult year for home buyers, though.  There has been a lot of competition for the few homes that are available.  We have less than a two week inventory of homes available.  For context, a balanced market between buyers and sellers is generally considered three months so we have a very limited supply.

Elk Grove Real Estate update Dec 2020

Sellers have been able to get 102.7% of their listing price.  There have been 27 homes sold for less than their original sales price so sellers still need to price according to recent sales in their neighborhood.

With the pandemic continuing and interest rates so low, our market is likely not going to change for some time.  My guess is that as the Covid vaccines are administered homeowners will become more comfortable with listing their homes again.  Hopefully, that will create a more reasonable supply of listings again and a more balanced market.

If you need assistance either purchasing or selling a home, feel free to call me with any of your questions.  I would be glad to help.

View homes in Elk Grove

View Homes in Elk Grove, 55+ communities (if currently available)

December market update for the Laguna West, Lakeside and Stonelake areas

Posted by

             eXp Realty of California, Inc

Raymond Henson, SRES, GRI, e-Pro

Past Client Testimonials   

3412 Babson Drive

Elk Grove, CA 95758

RayRHenson@gmail.com

916-698-8415

 

 

Comments (10)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Raymond Henson, SRES, GRI - to get the best service as a seller or buyer in Elk Grove someone need only call you.

Jan 11, 2021 05:53 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Raymond- excellent real estate update for Elk Grove, CA!  It is just the kind of information that buyers and sellers are looking for. 

Jan 11, 2021 07:46 PM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you Grant Schneider and Kathy Streib.  I appreciate you both taking the time to read my post and comment.

Jan 11, 2021 09:42 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I can vouch that Elk Grove is a wonderful place and I really enjoyed spending a couple of weeks there many years ago.

Jan 12, 2021 05:14 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nice to learn more about the Elk Grove Real Estate market. Sellers getting 102% of their listing price is amazing!

Jan 12, 2021 05:54 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Raymond, great market update for Elk Grove, and a good presentation for this city.   With Sellers seeing over 100% of list, sure tells the story.

Jan 12, 2021 05:57 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

We have enjoyed making Elk Grove our home for over 20 years, Brian England.  It is a wonderful community.

Jan 12, 2021 06:41 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Yes, Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, homeowners and sellers are doing very well.  Thank you your your input.

Thank you Joan Cox.  I appreciate the positive critic.  It is a very good time to list a home.  We are preparing one beginning tomorrow.  It should be on the market about two weeks from now.

Jan 12, 2021 06:45 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning. Naturally if someone is looking to sell or buy in Elk Grove the first step is call Raymond Henson, SRES, GRI 

Jan 12, 2021 07:22 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you Rocky Dickerson, I appreciate your vote of confidence.

Jan 12, 2021 03:40 PM