As elsewhere in Sacramento county, sales and prices are beginning to stabilize in the city of Elk Grove. Homebuyers are showing a renewed interest in short sales and foreclosure sales as well as non-distressed sales have fallen. 229 homes sold in all of which 40.6% – the majority – continue to be foreclosure sales but a close second are short sales at 38.9% of all real estate sold. The rest 20.5% are non-distressed sales. Foreclosure sales fell 27.3% year over year while non-distressed sales fell 24.2%. Short sales rose 46% year over year as buyers and REO banks are perhaps on the same page for the first time in a long while.

Average price per square foot also stabilized at $113.83 which is 1.1% higher than it was a year ago. Then it was $112.55. Average sales price for a home in Elk Grove is now $246,358 which is 2.3% lower year over year. It fell from a high of $252,062. Median sales price fell 5.4% for the same period from $242,000 to rest at $229,000 currently.

As Elk Grove starts reducing its short sale inventory, the numbers begin to look better – overall inventory is at 2.9 months, short sale inventory under half a month, non-distressed at 1.4 months and short sale inventory at 7.7 months.

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.

The Elk Grove real estate market, following the trend of the larger Sacramento county real estate market as well as other local smaller markets, is mostly unchanged from last year about this time. 283 homes sold in Elk Grove in the month of June, over 280 in June of 2009. However, foreclosure sales fell 27.7% while short sales gained 25% in sales. Non-distressed home sales rose the highest in Elk Grove at 52.8% year over year.

Average price per square foot continued to stabilize and currently rests at $114.93 up 2.3% year over year from $112.38. Home buyers bought homes on average 2.7% larger this year than in last June. Average sales price reflects this slight increase in the size of homes bought and sold and is 5.1% higher than it was a year ago. Average sales price now is $248,063. Last June it was $236,078. Median sales price is currently $235,000 which is 2.2% higher than a year ago when it was $230,000.

Overall inventory in Elk Grove is at 3.5 months, foreclosure inventory is less than 1 month while short sale inventory hovers around 10 months.

As Elk Grove limps slowly – very slowly back to recovery – interest in bank owned homes gives way to short sales and owner occupied houses. 251 homes sold in Elk Grove in the month of May 2010. Of these, 108 were foreclosure sales, 75 were short sales and the rest 68 were non-distressed properties. Year over year, foreclosures fell 38% while short sales increased 38%. Non-distressed home sales also gained a decent 33.3% for the same period. 1 out of every 4 home sales is now non-distressed.

Average price per square foot is now $114.52 which is 2% higher than it was a year ago when it was at $112.32. Average sales price is almost the same this May as it was last May when it was $237,249. Today it is $236,753. Even the median sales price is hovering around the same mark as a year ago. It is is currently $230,000 down 2% from a year ago when it was $235,000.

Overall inventory in Elk Grove is around 4 months. Foreclosure inventory is around 1 month and short sale inventory is around 11 months.

222 homes sold in the city of Elk Grove in the last month, an overall unit volume decrease of 10.5% year over year. Foreclosure sales, as elsewhere in Sacramento county, are down year over year while short sales have increased by 66%. What this does not change however is the ratio of distressed to non-distressed home sales, which remain at about a 3:1 ratio since this time last year.

Average price per square foot also remained the same or thereabout at $115.43. Last April, average price per square foot for real estate in Elk Grove was $113.04. The average sales price fell very slightly by 2.4% to hit $242,962 in April. Last April, it was $248,841. Median sales price is now at $228,00, a 5% decrease year over year.

Inventory in Elk Grove is at 4.1 months based on the last year of sales and 4.6 months based on the last six months of sales. Foreclosure inventory remains around 1 month and short sale inventory remains the largest at slightly under a year.

After a decent month of price increase in February, March has seen some interesting changes in the real estate market of Elk Grove. The more things change, they say, the more they remain the same and it’s been certainly true this month in Elk Grove. A total of 254 homes sold in the area in the month of March, an increase of 7.6% year over year. A full third of all homes that sell are now non-distressed, a good change from last year where only 1 out of 10 homes sold was non-distressed.

Of the 254 sold homes, just 104 were foreclosures, a large number by any other area in Sacramento county but a 41% decline in foreclosure sales year over year for Elk Grove. Short sales were up by 117.6% which is always a good thing to see and non-distressed home sales have risen by a whopping 192.3%. Overall unit volume was up 7.6% year over year.

Average price per square foot seems to have leveled off at $115.48. Last March it was $115.69. Average sales price is also almost the same as last March at $241,939 – a 2.8% decline over $248,872 last March. Median sales price also remains almost the same year over year at $231,500.

Inventory is at 4.1 months based on the last year of sales and 4.6 months based on the last six months of sales. Short sale inventory that is worrying everyone lately is still is just under a year.

For those of you who have been waiting with bated breath, Elk Grove has seen its first year over year increase in price. It is however small, tiny, in fact. But first, let’s take a look at the overall sales of the real estate market in the city of Elk Grove. Just 146 homes sold in the month which is an overall unit volume decrease year over year of 39%. Foreclosure sales alone fell 63.5% for the same period. Short sales remained the same at 33 but non-distressed sales gained a whopping 71.4% year over year. This means that 1 out of 3 homes sold are now non-distressed, a big change from last January where just 1 out of 10 homes sold was non-distressed.

There is a small increase in average price per square foot. Currently average price per square foot is $117.27 which is 1.6% higher than it was a year ago when it was $115.47. Average sales price currently rests at $240,722 which is 2.9% lower than it was a year ago. Median sales price is $221,500.

Inventory in Elk Grove is at 4 months based on the last year of sales and 4.3 months based on the last six months of sales. Foreclosure inventory hovers around 1 month and short sale inventory hovers around a year!

January was a slow month for real estate sales in Elk Grove, even less prolific than December. Just 178 homes sold in the area, an overall unit volume decline of 16.4% year over year. Foreclosures alone fell 57.7% for the same period. The biggest gains were experienced by non-distressed properties which rose 176.2% year over year. Short sales also gained over last January’s sales by 75.9%. One out of every three homes sold is now non-distressed which says a lot about the recovering health of the Elk Grove real estate market.

Average sales price per square foot in Elk Grove is now $112.96 which is just 3.2% under last January’s $116.66. Average sales price has fallen year over year by 4.7% and currently rests at $239,362 from a high of $251,181. Median sales price is now $227,000.

Inventory in Elk Grove is at 3.7 months based on the last year of sales and 3.9 months based on the last six months of sales. Foreclosure inventory is under a month and the only inventory that needs to get absorbed before we see price gains seems like the short sale inventory. However, that seems to be around 12 months, so I guess we’ll just have to be patient.

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.

218 homes sold in Elk Grove in the month of November. The biggest news of course is that – either because of foreclosures drying up or because of banks holding on to foreclosure inventory as we’ve heard so often – REO sales are much lower than they were last year at this time. Foreclosure sales in Elk Grove have fallen 41.4% year over year and short sales have more than made up the difference. Short sales are up 116.1% year over year. Non-distressed property sales are up 25.6% for the same period. Overall unit volume fell 10.7%.

Average sold price per square foot has not suffered too much of a change from last month. It is currently $116.09 which is 7% lower year over year from a high of $124.82. Average sales price is now $243,706 down 10.1% for the same period. Median sales price rests at $230,000.

Inventory in Elk Grove is at 3.8 months based on the last year of sales and 3.7 months based on the last six months of sales. Foreclosure inventory is at little over half a month.

247 homes sold in Elk Grove this month, an overall unit volume decline of 23.8% year over year. More significant perhaps is the fact that while a year ago distressed property sales made up 86% of all real estate sold in the area, today distressed property sales are at 72% of all sales.

Foreclosure sales have fallen 54% year over year and the space has been taken up by short sales which are now 29.1% of all sales. That is a 50% increase year over year in short sales. We are also seeing an increase in non-distressed property sales by 54.5% for the same period.

Average sold price per square foot is now $114.53 which while the same as last month is an 11% decline year over year from a high of $128.61. Average sales price is now $237,934 down 10% year over year from last October’s high of $264,652. Median sales price is now $230,000.

Elk Grove has 3.7 months of inventory based on the last year of sales and 3.6 months of inventory based on the last six months of sales. Foreclosure inventory hovers around 0.5 months.

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.

The Elk Grove real estate market has stayed fairly consistent for the last few years so it’s a little disconcerting when the unit volume starts to drop. The hypothesis of course seems to be that bank-owned properties are running dry and that does indeed seem to be the case with 0.5 months of foreclosure inventory left.

Just 251 homes sold this month as compared with 333 last August – that’s a unit volume drop of 24.6% year over year. Foreclosure sales fell by 43.4%, short sales gained 38.6% in sales and there was almost no change (-1.6%) in sales of non-distressed homes.

Average sold price per square foot reports don’t offer any great news either. Average sold price is now $112.55 per square foot, a drop of 14% year over year. Average sales price rests at $252,062, a fall from grace of 10.5% year over year from a high of $281,511 and median sales price is now $242,000.

Inventory in Elk Grove is at 3.2 months.

In keeping with July’s numbers, real estate sales in Elk Grove have been showing signs of slowing quite dramatically from last year. A total of 251 homes sold this month, as compared with 333 last August, a unit volume drop of 24.6% year over year. The biggest slice of this drop has been in the foreclosure sales area where just 128 homes sold this August as compared with 226 last August. Short sales gained by 38.6% year over year with 61 homes selling this August as compared with 44 last August. Non-distressed sales remained pretty steady at 62.

Average price per square foot is now $112.55, down 14% year over year from a high of $130.89. Average sales price rests at $252,062 after a 10.5% drop year over year from $281,511. Median sales price is currently $242,000, a more modest 8.7% drop for the same period.

Overall inventory is at 3.2 months whether we look at the last 12 months or 6 months of sales, which seems to suggest the real estate sales market has been pretty steady in Elk Grove over the last year. Foreclosure inventory is at 0.5 months and 0.6 months respectively.

Just 264 homes sold in Elk Grove this July as compared with 333 last July. That’s an inventory drop of almost 21% year over year. Foreclosures themselves fell by 45.4% in sales, a number yet to be beaten by any other area in Sacramento county. Elk Grove sales were fueled by foreclosure sales a year ago and now we’ll have to see if short sales do the same for it. Short sale inventory currently hovers around 14.8 months so there might be more pain to come. Year over year short sales have gained 46% and non-distressed 62.2%.

Average sold price per square foot is at $115.55 currently, a fall of 11.2% year over year. Average sales price is $244,430 – a drop of 9.6% for the same period. Median sales price for a home in Elk Grove is now $229,500. And if you think people are turning away from McMansions as they are usually referred to, think again. The average home sold in Elk Grove continues to be over 2000 square feet. In fact, this July the average home sold was 2% bigger than last year.

Inventory is at 3.2 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.

It is rare for the real estate market in Elk Grove to be this unchanged month to month but this time that’s how it looks. 280 homes sold in June, the same as in May. Of these 155 were foreclosures (a decline year over year of almost 18%) 72 were short sales (a gain of 157% for the same period) and 53 non-distressed sales (also a gain year over year, albeit a smaller 10.4%). Overall unit volume gained 6.1% for the same period. A harbinger of things to come? Let’s hope so!

Sold price per square foot is at $112.38, a few cents higher than last month but 17.7% under last year at the same time. Average sales price is at $236,078, also a decline of 17% year over year. Median sales price currently rests at $230,000. Median price has declined by 13.2% since last June.

Inventory in Elk Grove is at 3.1 months based on the last 12 months of sales and 3.4 months based on the last 6 months of sales. Foreclosure inventory is at 0.6 months no matter how you look at it.

Much like last month, Elk Grove posted a decent number of sales at 280 total homes. Much like last month, we also see a drop in overall unit volume year over year although it’s almost negligible at 0.7%. The greatest increase year over year is in short sales – 184% increase year over year, while foreclosure sales dropped 13.4% and non-distressed sales also fell 16.4% for the same period.

The price declines continue however. Sold price per square foot is currently $112.32, down 17.5% from last May’s $136.08. Average sales price has also fallen again – this time 16.7% year over year – to hit $237,249 from a high of $284,952. Median sales price for Elk Grove is now $235,000.

Inventory in the city of Elk Grove is 3 months based on the last year of sales and 3.3 months based on the last six months of sales. Foreclosure inventory remains low – at 0.4 months and 0.5 months respectively.

This is the first time in many months we have seen an overall unit volume decrease in Elk Grove’s year over year real estate sales. Whether it means anything yet is unclear, but total inventory sales are down 11.9% year over year. Still Elk Grove managed to post a good number of 244 home sales in the month of April. 148 of these sales were foreclosure sales, 41 were short sales and 55 were non-distressed homes. Distress sales continue to dominate with 77.5% of the total sales pie leaving the rest 22.5% to non-distressed properties.

Foreclosure sales are down however year over year by 23% – something that makes me sit up and take notice. The real estate landscape of Elk Grove is changing again. Short sales gained 58% year over year and non-distressed sales fell 7% for the same period.

Where is the bottom for prices? It’s hard to say. Currently, average price per square foot is at $113.04 down 19.3% year over year from $140.01. Home buyers thus afforded themselves homes bigger on average year over year by 8%. The average sales price is currently at $249,810 down 12.6% year over year from a high of $285,725. Median price is also down 10.8% to $240,000.

Inventory is at 3.3 months based on the last year of sales and 3.6 months based on the last six months of sales. Foreclosure inventory is at 0.6 months and 0.7 months respectively.

A total of 236 homes sold in the city of Elk Grove in March: 176 foreclosure sales, 34 short sales and 26 non-distressed homes. 89% of all sales are now distress sales with foreclosures gaining 25% year over year and short sales higher 209% for the same period. So you could say that nothing much has really changed since we last checked in here. Non-distressed sales are down 45% year over year. Overall unit volume is up 19.2%.

Average sold price per square foot is mostly unchanged from last month at $115.69, which should be a welcome change to homeowners in Elk Grove that have seen huge price declines month after month. It is however still a fall of 16% year over year from a high of $138.72. Average sales price has fallen 19% year over year from $306,696 to rest at $248,872. Median price is currently at $235,899 a decline of 20% year over year.

Inventory is at 3.4 months based on the last year of sales and 3.7 months based on the last six months of sales. Foreclosure inventory is at 0.8 months.

I’ve never understood the phrase, “The more things change, the more they remain the same.” Maybe it comes into play in Elk Grove’s real estate market. Except they haven’t changed much from January to February at all. Distress sales remain high with foreclosure sales taking 74.5% of the market and short sales 13.8% of the market. The remaining 28 nondistressed sales take 11.7% of the sales pie. Foreclosure sales are up 64.8% year over year, nondistressed sales are down 12.5% and short sales are up a whopping 450% year over year!

Average sold price per square foot is now at $115.47 – that’s 19% lower year over year from $142.60. Average sales price is also down 21% year over year from $314,078 to $247,789. Median price is down to $230,000 from $297,080 – a fall of 22.6% for the same period.

Inventory is at 3.5 and 3.6 months based on the last 12 and 6 months of sales respectively.

The majority of home sales in Elk Grove continue to be distress sales. Foreclosures and short sales made up 90% of all real estate purchases in this city south of Sacramento in January. 163 foreclosures and 29 short sales easily outranked the 21 non-distressed homes. In fact, foreclosures sales have increased by 64.6% and short sales by 163.6% year over year. Non-distressed home sales have fallen by 34.4% for the same period. Overall unit sales are up 50%.

Average sold price per square foot has dropped 21.7% year over year from a high of $148.95 to $116.66. Average sales price has also dropped 20.8% year over year. The average home in Elk Grove, which would have cost you $316,984 last January would now be valued at $251,181. Median sales price has dropped 17% from $298,500 to rest at $248,000.

Inventory is at 3.6 months based on the last 12 months of sales and 3.5 months based on the last six months of sales. But foreclosure inventory is at 1 month. It seems like even in this market, Elk Grove can sell homes. It just depends where they are priced.

If you’re looking for big and bigger homes, Elk Grove is definitely one place to find them. With the average home above 2000 square feet, home buyers seem to be flocking to this city to find the best deals. And deals they are finding – with foreclosures and short sales selling at such a rapid pace, the average homes sold in Elk Grove are getting bigger – about 8% bigger to be exact.

The statement about foreclosures and short sales selling fast is no hyperbole either: 190 foreclosures and 37 short sales sold in the month of December in Elk Grove. That’s more than 6 REOs and more than 1 short sale a day! That led to a 150% increase in foreclosure sales year over year, a 270% increase in closed short sales year over year and a 41.5% decrease in non-distressed sales! Only 12% of all sales were non-distressed properties, with the majority (73.6%) being foreclosures. Unit volume remained higher than last year at 85.6%. A total of 258 homes sold in Elk Grove in the month of December 2008.

The average price per square foot has fallen to $120.11 – that’s a drop of 25% over last year’s $160.23. The average home in Elk Grove now sells for 19% under what it sold for last December: average sale price has tumbled from $323,140 to $260,538. The median sale price has also fallen 22.3% – from a high of $310,000 last December to $241,000 in December 2008.

Inventory is lower than last month. It is currently at 3.8 months (based on the last year of sales) and 3.3 months (based on the last six months of sales).

Distress sales dominate the Elk Grove real estate market and that is a reality in November as well. This is a steady foreclosure market, if there can be such a thing. 71% of all sales are foreclosures and 13.1% of all sales are short sales this November in Elk Grove. Non-distressed sales have declined by 35% over last year, an indication that some home sellers have decided just to wait out the real estate market.

But they might be waiting a while. One almost never sees price increases when the holidays are so close and this November is no exception either. Average price per square foot has fallen 23.6% over last year: from $163.45 to $124.86. Average sale price and median sale price have both fallen 22% year over year: from $347,121 to $270,743 and from $324,200 to $252,000 respectively.

The good news remains that at least someone is buying. Unit volume is up 70% over last November and the average home sold this November was about 45 square feet bigger than last year, although with most homes in Elk Grove being above 2000 square feet, that’s not saying much.

Inventory is at 4.1 months based on the last year of sales and 3.4 months based on the last six months of sales. Keep an eye on this number: it’s lower than it was last month and it will be the first to indicate a recovery.

The banks finally seem to be getting the picture; at least in Elk Grove, that seems to be a reality. As a case in point, one has only to look at the short sales. Where last October a mere 4 houses sold as short sales, this October we see 26, a 550% increase! Foreclosures now make up almost three quarters of all sales, up from last October’s 50%. There has also been an overall increase of 55% over last October’s sales in all. (That includes both distressed and non-distressed sales.)

Sold price per square foot is now at $129.92 on average, a drop of 25.1% over last October, but a slight increase over last month’s $126.72. The average home sales price also seems to have recovered a little over last month. In September, the average home had sold for $265,701. This month the average home sold for $268,546. The numbers are obviously not great enough to rejoice yet, but seem to be bouncing around the bottom. The average sales price is still a drop of 25.8% over last October.

Inventory in Elk Grove (zip codes 95624, 95757 and 95758) based on the last 12 months of sales is at 5 months and based on the last 6 months of sales is at 4.1 months.

Elk Grove is one of those areas with many foreclosures, where the competition for these low priced homes has become very fierce.  In July, for example, the average home sold in Elk Grove for $272,767, slightly above the average list price of $271,974.  Foreclosures are in short supply at about 1.5 months of inventory, and it is bank foreclosures that made up the lion shares of the sales in Elk Grove in July at 74.3% of the total.

Homes are selling below the Sacramento County average in Elk Grove, coming in at an average of $130.36 per square foot, which is down 32.6% form last year’s average of $193.51.  Sales have more than doubled since 2007, rising 150% from 126 units sold in July of 2007 to 315 units sold in July of 2008.

Below we have volume and price data for Elk Grove:

Unit Volume Data

 Price Data

 Inventory (Based on 12 months of prior sales)

 Inventory (Based on 6 months of prior sales)