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Elk Grove Market Update for June 2021
Dated: July 10 2021
Elk Grove Real Estate Market Update for June 2021
From June 2020 until June of 2021, Elk Grove has had quite a year. The median price is up 30%. Yes, homeowners are still very happy and it is still difficult for home buyers to get into contract. On average, buyers are paying 7.6% above list price. Month over month, the median price and average prices are essentially the same (see May Report). One month does not make a trend, but maybe our market is leveling off a bit. It will be interesting to see how prices move over the second half of the year.
This month I thought it would be interesting to see how the pricing is for Elk Grove's three main zip codes versus all of Elk Grove. 95758 has the highest price per square foot, but the houses sold are smaller than the other two zip codes, on average. Continuous days on market, sales volume and the average price paid over list price are all very similar.
"Having fewer multiple offers is a symptom of slowing. Even though we’re basically seeing some of the highest levels of multiple offers ever, the numbers have been slightly lower for two months in a row. So clearly competition has begun to pull back slightly." Ryan Lundquist, The Sacramento Appraisal Blog.
Tidbits from Across the Country
"After May saw a drop in the average sales price of Tempe homes by over $23,000, June saw an increase of $32,647, back up to $537,614. At the same time, the average sold price per square foot increased for the fifth straight month from $264/sf to $276/sf." Troy Erickson AZ Realtor (602) 295-6807.
“The number of new lease signings continued to set records (in
Manhattan) as the length of leases expanded.” Jonathon Miller, Housing
Notes. It seems as though people are coming back to the big cities.
"Inventory in North Texas dropped a whopping 50.7% from May 2020."
Patricia Feager, MBA, CRS, GRI,MRP
"The sales figures for June, 2021 have been published and Bend home
prices continue to rise as demand is still outpacing supply." Lynnea Miller,
"The 30-day trend for the average list price for all categories, except
condominiums/townhomes, dropped with single family homes falling over 11
percent in the past 30 days." Theresa Harden, Honolulu, Hawaii.
Ray Henson has been in the real estate industry since 2010 as an agent. He has achieved numerous designations, including Graduate Realtor Institute, Senior Real Estate Specialist, Certified Negotiati....
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