Sacramento County Market Updates - Elk Grove (95624, 95757, 95758)

Despite the doom and gloom news, or perhaps because of it, Elk Grove is where the bargains are. I was in Elk Grove showing homes not too long ago and out of the ten homes that my clients had picked, nine were foreclosures or in the process of being foreclosed.

Taking a more precise statistical look at the city of Elk Grove, 1036 single family houses have sold this year so far as compared with 1967 single family homes last year. That's a reduction in sales of over 45% but the year is not over yet. There are 195 homes that are pending sale, which will add to the numbers and 1572 more homes on the market for the homebuyers to pick from.

Median prices have also fallen in Elk Grove since last year's $430,000 to this year's $380,000 - a drop of 11.6% making the dream of buying a home in Elk Grove more of a possibility for a lot more people.

Remember to take these numbers carefully, though. The year is not over yet and so the year over year medians and sales are not exact. There will be more sales recorded and hopefully the numbers will improve.

Also read: How Real are Real Estate Statistics?; Sacramento Projections