Elk Grove Market Update for 2021

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

Elk Grove Market Update for Elk Grove

Year in Review

Elk Grove Market Statistics for 2021

It turned out to be a very good year for homeowners and home sellers in Elk Grove this last year.  Median prices went up 30%, year over year. It is interesting to note that in the last seven months preceding December, the median price had not changed that much.  It remained, on average, at $602,000.  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.

How did each zip code fair in Elk Grove last year?

It has been a few months since I have reported on each zip code in Elk Grove.  So which area saw the best price appreciation.  It was close, but 95757 came in number one with 31% growth in the median price of homes.  95758 was second with 30% growth and 95624 was a very close third at 28% growth. 

How did Laguna West, Lakeside and Stonelake do?

I have lived in the Laguna West-Lakeside area since 2000 so I like to review those areas every so often.  They are smaller areas so I took a rolling average of the last three months of 2020 and compared that number to the average of the last three months of 2021.  The median price growth was impressive, but not as good as the whole of Elk Grove.  Laguna West Median price rose 22%, Lakeside 20% and Stonelake grew 22.6%.  I am sure that taking the rolling average of the last three months toned the growth down a bit.

Buyers

Be prepared for another challenging year.  The factors are still in place that we faced at the beginning of last year.  There is very little inventory and interest rates are still historically low.  Currently, there are 55 homes available to purchase in Elk Grove.  The median price of those homes is $679,000.  The lowest priced home is $390,000 and the highest checks in at $1,175,000 (it has been on the market for 159 days).  There is a chance interest rates rise.  In the long run, this could slow the real estate market down, but if the rates move up slowly, it could drive more buyers into the market to beat the next rate increase. 

Sellers

It looks like it will be another good year for you just make sure to spruce up the house and price according to the market.  There are several houses on the market now that been on the market for quite some time.  Buyers are still being aggressive, but they do have their limits.

Elk Grove Market Update, November 2021

Sacramento Area

The Most Aggressive Housing Market Ever?  by  Ryan Lundquist.

Spectacular Recent Sunset At Oasis Park in Elk Grove

Sunset at Oasis Park

Sunrise at Lawrence Park

Sunrise at Lawrence Park in Elk Grove

Rare Seasonal Falls in Elk Grove

 

 

 

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 (30)

Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Howdy, Endre Barath, Jr. What I found surprising is that the last 7 months had been pretty flat and then December's prices went up fairly significantly.  Buyers do seem to be moving back into the market early this year.

Good morning, Brian England.  In general, I think you are correct.  I am hopeful that your income rose 30% last year, though.

I think a lot of the price growth can be attributed to the huge amounts of returns homeowners have had over the last 10 years.  When I first started in real estate about 11 years ago, it was easy to find nice homes in Elk Grove in the mid 200,000's.  Can you imagine your returns if you had bought a home then with 3.5% down and held it until now?  Truly remarkable.  Plus, we have plenty of people selling in the Bay Area and moving here.

Jan 15, 2022 08:06 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Good morning, Wayne Martin.  I am wearing my gear, for sure.  😉  My wife keeps telling me we downsized too soon (about 3 years ago).  She might be right.  I can't imagine what our house would go for today.  Actually, I can, but I don't want to.  Ha!

Hi, Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400.  I think sellers and homeowners are all very excited.  Good to hear from you!

Jan 15, 2022 08:09 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I will second that, Kat Palmiotti.  I hope you are doing well!

Good morning, Nina Hollander, Broker.  I think our areas have been very similar for some time now, even though our markets are so distant from each other.  It must say something about the country as a whole.  What a year!

Jan 15, 2022 08:11 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I agree, Ed Silva.  I expect those kind of returns some years in the stock market, but not so much in the real estate market.  Can you imagine what homeowners have made if they have owned a home for the last 10 years.  It is truly remarkable.

Jan 15, 2022 08:13 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Raymond,

What a wonderful and thorough report you shared on Elk Grove.  Those looking to buy or sell should definitely contact you.  A

Jan 15, 2022 10:49 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you very much, Ron and Alexandra Seigel. I appreciate you making the time to drop by and leave a comment.

Jan 15, 2022 05:52 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Raymond - it was a great year for seller and very challenging for buyers especially first time buyers.

Jan 16, 2022 05:11 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I do feel for buyers in this market.  The first half of last year it was almost impossible to know where to price an offer, Grant Schneider.  When I had listings, I never have had so many agents calling and pleading to know the price of the accepted offer.  And our market is heating up once again.   Thank you for stopping by.

Jan 16, 2022 07:33 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ray, great update for Elk Grove, and what a HUGE increase in home values.  We aren't seeing that much.   Your market is still HOT! 

Jan 16, 2022 07:53 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Good morning, Joan Cox.  It is interesting.  Our prices took a break for 6 or 7 months.  I expected more of the same for December, but they went up quite a bit over November.  I was surprised.  Maybe buyers are coming back into the market sooner than usual.  It seems like any time there is talk of rising interest rates, buyers that are on the fence, jump off and start buying.  I do wonder where we will be at the end of the year. 

Jan 16, 2022 08:08 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Raymond Henson, eXp Realty - Your clients will love the detail that you give comparing 2020 and 2021.  This also helps you with comps for your listings.  I love that sunrise pic on the pickle ball courts.

Jan 16, 2022 09:29 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Have an outstanding week.

Jan 16, 2022 10:42 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Surprising stats! 30% increase for medium homes may sound outlandish to some but people wouldn't buy if they didn't love working with Raymond Henson, eXp Realty and love California too! I wish you continued success and really good buyers and sellers.

Jan 17, 2022 04:42 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Monday morning, Ray. We have another snowy morning in Maryland.

Have a great day and an outstanding week.

Jan 17, 2022 07:08 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you, Sheri Sperry - MCNE®.  The picture of the pickleball courts is actually sunset.  It was spectacular, but camera added to it with subtle changes to the colors.  I put it on Google Maps and it had a huge amount of views.  

I was really surprised at the December prices.  We had been flat for so long.  It really does help to review the numbers every month.

Jan 17, 2022 08:18 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Good morning, Roy Kelley.  I hope the snow if beautiful and that you can enjoy it from a very safe and cozy place.  I will be looking forward to all of your great posts on Twitter and elsewhere.  Have a wonderful week!

Jan 17, 2022 08:20 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Thank you very much, Patricia Feager, MBA, CRS, GRI,MRP.  I really appreciate your positive posts and I have been blessed with great customers.  I wish you continued success in your area of Flower Mound, Texas.  I know how well you take care of your clients.  They are lucky!

Jan 17, 2022 08:22 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I just completed the snow shoveling. Chef Dolores just served a hot chocolate.

Jan 17, 2022 08:23 AM
Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

That is a great reward for all of that hard work.  I have only shoveled snow one time, Roy Kelley.  It was at a friend's home in the Lake Tahoe area.  It is hard work.  You deserve that hot chocolate!

Jan 17, 2022 08:30 AM
ActiveRain Member Support
Seattle, WA

Raymond, I think a couple of years ago when the site was getting blasted by 100s/1000s of spammer comments, we shut down non-member commenting.  Someone has to create an account to leave a report.  I'll run it by the Dev Team, but I just tested while logged out on your blog and another member's blog and both prompted for Log In or Join Now.

Jan 20, 2022 11:17 AM
Raymond Henson, eXp Realty

I appreciate you looking into it.  Thank you! 


Those darn spammers.  I think it would be a real plus if we could get the general public to be able to communicate with us.  I think it would help make ActiveRain a more "go to" site for the general public.  How do other sites do it without getting the horrible amounts of spammers?

Jan 20, 2022 11:26 AM