240 homes sold in Elk Grove this past month, an overall unit volume decrease of 7% year over year. Foreclosures alone fell by 46.3% year over year from 190 sold last December to just 102 this month. Inversely, short sales rose by 113.5% for the same period and non-distressed property also saw an increase in sales by 90.3% year over year. The overall percentage of non-distressed sales has doubled year over year from 12% to 24.6% of all homes sold.

Average price per square foot is now $114.48 which is 4.7% under last December’s $120.11. Average sales price in Elk Grove is $247,753 – also a decrease of 4.9% year over year from a high of $260,538 last December. Median sales price now rests at $232,500, a decrease of 3.5% from a high of $241,000 in December of 2008.

Inventory in Elk Grove is now at 3.5 months based on the last year of sales and 3.6 months based on the last six months of sales. Foreclosure inventory still remains under a month.

Comments are closed.