Elk Grove Real Estate Market Update

June, 2005

Elk Grove's real estate market really heated up in June along with the summer weather. As expected, more residential units sold through the MLS this month than in May. June's sales were at 346 units, up 12.3% from the 308 units sold in May. As was the case in May, June's unit sales volume were also up compared to the same time last year, with June's number of 346 besting last year's 320 by 8.1%.

The median home price in June stood at $439,900, a 20.2% increase over the median home price of $365,999 in June of 2004. The average sale price for June was $461,542, a 20.8% increase from last June's $381,942.

Homes took 22 days on average to sell, unchanged from May but up somewhat from last June's 16 days. Still, sales remained brisk, with fully 86.56% of homes selling in their first 30 days on the market, and 10% selling in the period 30-60 days on market. Also, the ratio of sale price to list price has shifted down somewhat. Last year, on average, sellers sold their home for a fraction more than list price (100.3%), while this year they had to be "content" with walking away with only 99.9% of their asking price.

More Market Updates:

November, 2005
October, 2005
September, 2005
August, 2005
July, 2005
June, 2005
May, 2005

2005 Price History