Elk Grove Zip Code 95758 Housing Market Data for June 2022
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Median Home Sales Data
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Housing prices are up 👆 20% in Zip code 95758 in Elk Grove from April of last year. Elk Grove’s housing market is still on fire 🔥.
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As we head into the prime housing market season, everything appears to still be very hot. The active listings (inventory) are up, which is normal. Active listings trend up from February until around September. This is highlighted in green below.
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With rising interest rates, I expect the housing market to cool off moving forward. You will first start to notice this in a few places. One will be DOM will start to increase. Housing prices will start to equal out or be flat. And last, the Multiple offers will begin to trend down in the pending homes first.
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Looking at the DOM, which is up some. Last year it was 6, and now it’s at 9, in red below. It’s also trending up a little from month to month.
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The multiple offers in this zip code are still really high. The pending in April is at 73% with more than one offer. The pending in March was 75%. The multiple offers will start to decline in the pending homes moving forward.
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Of the homes that sold in April, 74% had more than one offer. Of the homes that sold in March, 82% had more than one offer. Last year the April homes that sold were 74% with more than one offer. With more active listings, it’s normal for the multiple offers to drop.
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With interest rates on the rise, the housing market will be slowing down. The month-to-month data will be where it will show up first.
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If you are thinking of selling or buying soon, you should act right away. As the feds just increased the interest rates, another .50% base points today. They are saying they will be raising the rates every month.
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If you are thinking about selling, right now is the time. If you want top dollar! Yes, listing your home SUCKS! Here is a helpful list of do’s and don’t when selling a home.
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If you are thinking about moving to a bigger or smaller home but you are worried about having to move twice. I have a system put in place, so you only have to move once.
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For more housing information visit my blog at https://www.allcahomes.com/blog/
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February-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
18 |
$717,450 |
$0 |
8 |
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Pending |
54 |
$593,944 |
$0 |
7 |
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Sold |
45 |
$588,000 |
$618,000 |
6 |
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Sold 2021 |
53 |
$450,000 |
$477,000 |
6 |
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March-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
29 |
$622,000 |
$0 |
9 |
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Pending |
51 |
$592,900 |
$0 |
6 |
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Sold |
51 |
$584,900 |
$620,000 |
7 |
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Sold 2021 |
51 |
$450,000 |
$492,000 |
6 |
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April-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
48 |
$616,500 |
$0 |
9 |
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Pending |
67 |
$610,000 |
$0 |
7 |
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Sold |
49 |
$599,999 |
$630,000 |
6 |
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Sold 2021 |
43 |
$495,000 |
$525,000 |
5 |
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Average Housing Market Data
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The average housing market data I don’t feel is as accurate as the median housing market data. One stat that is nice to look at is the original price compared to the list price. This tells us if homeowners have had to drop their prices to get their homes sold.
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Highlighted in green below notice that the list price is higher than the original price. This is unusual. This happens when an agent increases the price. Most of the time it's because they received a good offer and are trying to get a higher offer. This can be a good strategy to increase the selling price. Not all agents will do this.
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Highlighted in blue below the list price is lower than the original price. This is because homeowners usually have to drop their prices to get a home sold. In most cases pricing your home high and then dropping the price will hurt in the end. Less money in your wallet.
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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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April-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
48 |
$643,055 |
$639,681 |
$0 |
16 |
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Pending |
67 |
$644,018 |
$641,466 |
$0 |
14 |
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Sold |
49 |
$612,504 |
$613,155 |
$640,017 |
10 |
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Sold 2021 |
43 |
$512,254 |
$510,612 |
$532,967 |
9 |
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When comparing the last 6 months of home sales this year to the same time last year. Elk Grove homes in the zip code of 95758 are up 👆 27%.
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Elk Grove (95758) |
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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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Mar-21 |
389 |
$445,000 |
$465,000 |
6 |
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Mar-22 |
343 |
$569,000 |
$590,000 |
7 |
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Apr-21 |
352 |
$459,000 |
$477,000 |
6 |
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Apr-22 |
311 |
$575,000 |
$605,000 |
6 |
I want to put you in the best possible position to get a home at the best price. I have a method put in place 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.