Elk Grove Real Estate Market Update

November, 2005

November's real estate market in Elk Grove was weaker than it's been in recent months. Elk Grove generally has been a good example of a strong Sacramento area market, but November's numbers are down in many respects. At 181 residential units sold through the MLS, unit volume is down from both last month's 219 and last November's number of 232. Inventory continued to rise to almost five months, and at 85 expired listings, the ratio of those that expired to those that sold stood at just about 47%.

November's median home selling price in Elk Grove was $432,500. The average home listed for $464,119 and sold for 99% of list, for an average sale price of $459,481. Prices declined for the first time in recent months, causing a bit of a down-tick in our 2005 Price History Graph. (Whoever can go the longest without using the word "bubble" in this context now wins).

Not all is "doom and gloom" in Elk Grove by any means, however. Houses are still selling in just over a month (average 34 days on market), and fetching an average of 99% of their listed price.

More Market Updates:

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

2005 Price History