Elk Grove Zip Code 95758 Housing Market Data for August 2022
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Median Home Sales Data
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Elk Grove housing prices are up 👆 8% in zip code 95758. That is comparing July home sales this year to July last year. Comparing May home sales this year to July, housing prices are down 👇 5%.
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Let’s look at what the housing market numbers are telling us. The DOM (days on market) is up (highlighted in blue below). Homes are sitting on the market longer. This is caused by more active listings (inventory), fewer home buyers, and time of the year. I’ll get back to the time of year in a minute.
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Active listings (inventory) have stayed natural most from last month. This is highlighted in green below. In June, the active listings went up. July is about the same as June.
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Now let’s talk about the time of year. The time of year affects the housing market and the interest rate hikes. Once the children go back to school, the housing market will usually cool off 💦🔥. It can even take a big drop.
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First, we'll look at the pending housing data. Multiple offers play a big role in the housing market. The multiple offers have dropped in the last few months. In May, 69% had more than one offer. In June, 47% and in July, 45% had more than one offer.
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The homes that sold with more than one offer in May were 70%. In June, 62% and July, 46%. Last year in July, 76% of the homes that sold had more than one offer. All these numbers show that the housing market is changing and cooling off.
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**If you are buying a home, don’t overbid. I expect homes will sell for less than the list price soon. I have seen home buyers overpay for a home by 40k or more. Be careful!
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Major factors that go into buying a home that needs to be considered. Are the expensive things such as the HAVC, roof, fencing, condition, and water heater?
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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May-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active 52 |
50 |
$600,000 |
$0 |
19 |
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Pending 54 |
54 |
$596,500 |
$0 |
9 |
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Sold 61 |
56 |
$599,500 |
$625,000 |
7 |
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Sold 2021 |
63 |
$499,000 |
$542,000 |
6 |
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June-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
76 |
$599,919 |
$0 |
19 |
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Pending |
49 |
$589,900 |
$0 |
12 |
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Sold |
42 |
$599,475 |
$631,000 |
9 |
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Sold 2021 |
66 |
$500,000 |
$547,500 |
6 |
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July-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
75 |
$599,900 |
$0 |
25 |
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Pending |
40 |
$605,000 |
$0 |
15 |
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Sold |
46 |
$588,000 |
$592,500 |
13 |
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Sold 2021 |
74 |
$519,000 |
$550,000 |
6 |
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Average Housing Market Data
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Using the average housing market data, Elk Grove prices are up 6% in the zip code of 95758.
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Highlighted in blue below is the selling price each month. Notice that prices have dropped in the last 3 months with this data. Now, look at the original price and list price in the sold highlighted in green. In June the price went up slightly while in July there was a significant drop. This means more home sellers have had to drop their prices to sell their homes.
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Also, compare the list price to the sold price each month. In May, homes sold for about 20k over list price. In June, about 15k over list price. In July, only about 2k.
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Many home buyers will make at least one of these mistakes when buying a home. Don’t let that be you!!!
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May-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
50 |
$646,270 |
$634,714 |
$0 |
29 |
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Pending |
54 |
$607,552 |
$608,948 |
$0 |
12 |
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Sold |
56 |
$650,749 |
$648,053 |
$668,114 |
12 |
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Sold 2021 |
63 |
$512,093 |
$515,653 |
$556,143 |
13 |
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June-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
76 |
$625,390 |
$612,836 |
$0 |
28 |
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Pending |
49 |
$620,720 |
$604,453 |
$0 |
19 |
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Sold |
42 |
$627,136 |
$628,319 |
$643,829 |
18 |
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Sold 2021 |
66 |
$508,613 |
$512,773 |
$553,321 |
9 |
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July-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
75 |
$627,023 |
$612,868 |
$0 |
33 |
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Pending |
40 |
$633,351 |
$608,368 |
$0 |
25 |
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Sold |
46 |
$624,048 |
$605,309 |
$607,407 |
19 |
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Sold 2021 |
74 |
$537,391 |
$540,514 |
$572,552 |
10 |
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This is comparing the last 6 months of home sales this year to the same time last year.
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With the housing market changing, these numbers will not show as much as monthly.
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While inventory is up, total sales are down. Elk Grove housing prices are up 👆 16% in the zip code of 95758.
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Elk Grove |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sales Price |
DOM |
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Jun-21 |
308 |
$485,000 |
$520,000 |
6 |
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Jun-22 |
283 |
$599,000 |
$623,000 |
7 |
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Jul-21 |
340 |
$499,000 |
$535,000 |
6 |
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Jul-22 |
295 |
$598,000 |
$620,000 |
7 |
I want to put you in the best possible position to get a home at the best price. I have a method to get you the best price possible on a home without over-biding. Please feel free to give me a call, text, or email me to find out how my system works.
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We can put a plan together to save you as much money as possible in these circumstances. It is possible that waiting to buy or sell a home may help you have more fruit later. Your family home is one of your most significant investments. It's my job to ensure that it yields the highest ROI. That means making smart decisions that will yield fruit in the future. Planning is the best way to make this happen.