Elk Grove Real Estate Market Update: September 2009
The Elk Grove real estate market has been fairly consistent with last month but the year over year changes are still quite pronounced. 247 homes sold in September of this year as compared with 283 last September. That’s a unit volume drop of 12.7% year over year. Here are the interesting details, however: within this unit volume drop we see REO sales fallen by 44.4% while short sales rose 51.3% and non-distressed homes also rose by 97.3% for the same period!
Even prices seem to have recovered slightly from last month. Average sold price per square foot is now $115.58 up slightly from last month. Year over year however, prices are still 8.7% lower. Average sales price is now $247,150 which is 7% under last September’s $265,796. Median sales price currently rests at $235,000.
Inventory in Elk Grove is now at 3.4 months based on the last year of sales and 3.3 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.6 months respectively.
