Elk Grove Real Estate Market Update

July, 2005

Elk Grove Real Estate continued to outstrip last year's unit volume for the third month in a row in July, with 311 MLS residential sales for July this year as against 306 last year. We're still besting last year's units sold numbers, though not by as great a margin as in May and June.

In July, Elk Grove homes sold for an average of $466,948, up 19.5% from July of last year, and up 1.17% from the average in June. The median sale price of $435,000 was an increase of 20.8% over last year's $360,000. The sale price to list price ratio was 99.0% for July, down over a point from the 100.3% of July of last year.

The average home took 25 days to sell in July, up nine days from the same time last year and up three days from June. Nevertheless, some 77.5% of homes sold in their first 30 days on market, and 17.9% sold in the next 30 days, meaning that just over 95% of all homes sold in their first sixty days on the market.

We expect to see some seasonal cooling in August, and even more in September and October, but the real estate market in Elk Grove has remained quite strong to date.

More Market Updates:

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

2005 Price History