Conventional Sales Are Increasing in Elk Grove

Home sales in Elk Grove have been brisk.  Now is a great time to be a move-up Buyer or Seller.  We are in a Seller's market with less than a 4 month supply of inventory for sale.  A normal market is a 6 month supply.  We're seeing many homes are getting multiple offers.  Selling now and buying at today's prices may be better than paying more in the future for a home when home prices increase.  Interest rates are still very low.

For September 2009 in the 95624 Zip Code, there were a total of 77 closed sales approximately 43% REO, 27% Short Sales and 30%(28% August) conventional sales. Average sales price was $250k ($230k August) for conventional sales vs. $232 for REO/Short.


For 95758 there were 77 sales with approximately 47% REO, 24% Short and 29%( 25% August) conventional sales. While conventional sales average price was $240k, REO’s were $218k and Short Sales were $194k.

For 95757, there were 69 sales with 55% being REO, 20% Short Sale and 25% (no change from August) conventional sales. Again, average sales price for conventional sales was considerably higher than REO and Short Sales with averages of $280k, $267k and $247k.

The 3 zips combined: 240 closed sales with approximately 47% REO, 24% Short Sales and 29% conventional sales (26% August).

From all this, it appears that we are starting to see more conventional sales with average sales prices higher on these sales in 95624 and lower in 95757 and 95758 month over month. No clear trend in sight.

For information on how this applies to your situation, please contact us.

Your trusted real estate advisors for conventional, Short Sales and REO's.