Elk Grove Real Estate Market Update

August, 2005

Elk Grove's real estate market stayed strong in August and continued to compare favorably to last year in terms of unit volume. This August, 304 residential units were sold through the MLS, compared to 276 units for the same period last year, a 10.1% increase. The average selling price in August was $466,706, down slightly from July's average of $466,948. However, August's average price was up 19.9% over the $389,150 average price of a year ago. The median home price in August was $442,000, a 19.2% increase over the median home price of $370,950 in August of 2004.

Homes took 26 days on average to sell, up from last August's 19 days. Approximately 2/3 (66.5%) of homes sold in their first 30 days on the market, with 26% selling in the days 31-60. This was down from last year, when 80.1% of homes sold in their first 30 days on the market. Interestingly, however, the list price to sale price ratio actually went up somewhat. This August sellers received an average of 99.8% of their asking price, while the figure for last year was 99.6% in August.

More Market Updates:

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

2005 Price History