219 homes sold in the city of Elk Grove this last month, an overall unit volume decrease of 17% year over year. Foreclosure sales alone fell 41% while non-distressed sales declined 8.2% year over year making this one of the slowest years in real estate sales. Short sales in Elk Grove increased however by 31.5% which means that 1 out of every 3 homes sold in Elk Grove is now a short sale – quite impressive if you consider how home buyers were not interested in short sales a little while ago. Sales seem equally divided between foreclosures, short sales and non-distressed homes.

Average price per square foot declined slightly this month from $115.55 last July to rest at $111.82. That’s a 3.2% decline year over year. Average sales price is now $232,070 – a 5% decrease for the same period from a high of $244,430. Median sales price remained mostly unchanged at $228,800. Last July it was $229,500.

Overall inventory in Elk Grove is stable at 3.2 months with foreclosure inventory at half a month.

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