Real Estate Market Update for Elk Grove, CA 8/9/2022
By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
We saw average prices fall 4.4% from May to June in July's report. It is good to see that our market has leveled off as average and median prices are just about the same from July to August as they were at the end of June. Elk Grove, CA is still up 8% over the past year. One statistic that jumps off the table is the number of sales last month, 116. It is way down. Continuous Days on Market is up quite a bit, but 21 days is still pretty quick to sell a home. Interest rates have started moving back down so I think those looking to make a new purchase are feeling a little more comfortable again. Home Buyers There are currently almost 250 active listings right now so buyers do have choices once again with just over two months of supply. I have noticed that local new home b...
Comments
11