Elk Grove Zip Code 95758 Housing Market Data from February 2022
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Median Home Sales Data
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In most areas around Sacramento the active listings 🏡 have started to increase. That is normal this time of year. Buyers start to come back out to search for homes. Sellers start to put their homes on the market
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Active listings in zip code 95758 have decreased. This is in green. I expect this to start and rise shortly. The best time to sell is between March 1st and the end of June.
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Home prices continue to rise all around Sacramento. The zip code 95758 is on fire 🔥. In January home sold for about $30k above the list price. February is about the same.
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Multiple offers are what drive these massive housing increases. Of the homes that sold in January, 73% had more than one offer. February was up at 89% with more than one offer. This can be caused by a lack of active listings (inventory). More home buyers than sellers.
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Looking back at last year’s sold homes with multiple offers. In January 89% had more than one offer. February was at 70%.
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Home prices in the zip code of 95758 in Elk Grove have risen 28%. This is comparing February sold this year to February’s sold last year.
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Rather you are selling or buying, higher interest rates can affect you. If you are going to do either you should do it now. Making your monthly payment higher.
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Don’t what to purchase a home thinking you will get a better deal if housing prices drop. Even if the home prices drop some you could have a larger monthly payment with a higher interest rate.
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An example would be. Say you have a 30-year loan for $500k with a 3% interest rate. Your monthly mortgage payment would be about $2108.
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Say you wait and the housing market drops some. Say to $450k but now the interest rates are at 4%. Your monthly mortgage payment would be about $2148.
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Forty dollars a month more at 30 years comes out to $14,400.
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Zillow has many homes on the market currently. Most are well overpriced. These could be good targets to come in under list price.
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For those that don’t know Zillow overpaid for home purchases and lost millions of dollars. So much so that Zillow shut down that portion of their business.
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For more housing information visit my blog at https://www.allcahomes.com/blog/
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January-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
24 |
$612,500 |
$0 |
7 |
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Pending |
56 |
$575,000 |
$0 |
6 |
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Sold |
40 |
$576,500 |
$607,500 |
6 |
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Sold 2021 |
45 |
$460,000 |
$475,000 |
7 |
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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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Average Housing Market Data
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With active listings being so low the data can be skewed up or down. So, we will not look at this housing data.
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Housing prices are up 30% in February. This again is comparing this February to last February.
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January-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
24 |
$682,467 |
$687,300 |
$0 |
18 |
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Pending |
56 |
$593,606 |
$591,185 |
$0 |
14 |
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Sold |
40 |
$605,836 |
$604,724 |
$622,383 |
15 |
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Sold 2021 |
45 |
$475,683 |
$473,992 |
$488,436 |
11 |
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February-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
18 |
$767,988 |
$770,026 |
$0 |
21 |
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Pending |
54 |
$597,123 |
$594,932 |
$0 |
14 |
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Sold |
45 |
$596,395 |
$592,739 |
$622,653 |
12 |
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Sold 2021 |
53 |
$452,850 |
$453,838 |
$478,281 |
13 |
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Comparing the last 6 months of home sales this year to the same time last year. Home prices are up 28% in the zip code 95758 in Elk Grove.
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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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Jan-21 |
446 |
$439,000 |
$448,750 |
6 |
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Jan-22 |
404 |
$548,500 |
$570,000 |
7 |
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Feb-21 |
420 |
$445,000 |
$460,000 |
6 |
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Feb-22 |
368 |
$559,450 |
$580,000 |
7 |
Looking at the Laguna Lakeside Neighborhood. The number of homes that have sold are almost identical. Home prices in this neighborhood have increased 23%. This is comparing the last 6 months of home sales this year to the same time last year.
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Elk Grove - Laguna West Lakeside Neighborhood |
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January Back 6 Months |
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# Listings |
List Price |
Sale Price |
DOM |
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Sold 2020 |
87 |
$499,000 |
$500,000 |
6 |
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Sold 2021 |
75 |
$599,900 |
$630,000 |
9 |
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Febuary Back 6 Months |
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Active Listings |
List Price |
Sale Price |
DOM |
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Sold 2020 |
87 |
$489,900 |
$510,888 |
6 |
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Sold 2021 |
74 |
$607,500 |
$630,625 |
9 |
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I have a system put in place to get you the best price possible on a home without over biding. I want to put you in the best possible position to get a home at the best price. 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 largest 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.