An encouraging real estate trend in Elk Grove
Is the real estate market improving? While I’m not overly optimistic about the economy, it’s good to see a general trend throughout the market as seen in the table below. The percentage of foreclosures in the Sacramento area has seen a decrease over the past few years, while the level of short sales has seen an increase. Moreover, the overall percentage of distressed sales has seen a decline too.
What do you think this means?
The following graph was added as a result of a great question by Jeff in the comments section. “What were property values doing during this time?” was the question asked. It looks like the 95757 zip code has seen a clear decline in property value over the past three years. Yet at the same time it’s important to note the rate of decline has slowed down from previous years.
If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.
Related posts:
- How did the first-time homebuyer tax credit impact the real estate market?
- Dear Doctor, how healthy is the real estate market in Sacramento?
Tagged as: 95757 zip code in Elk Grove · appraiser in elk grove · data in Elk Grove · foreclosures in Elk Grove · home appraiser Elk Grove · real estate market trends in Elk Grove · short sales in Elk Grove
Hey Ryan,
I see a significant difference from the first year, less from last year to this year, although there is still a change. Just curious, other than the types of sales, what were the values doing?
Thanks for the post.
Jeff Hamric
Thanks Jeff. After your comment I added a trend graph to show what property values were doing over this same period. They declined overall, though the rate of decline is much lower than it was in previous years (not a total “ski slope” decline we saw in years past). It seems this market has been flirting off and on with stability in property values in recent times too.
Ryan,
Your overall concentration of distressed is very similar to my market, although it looks like you have more short sales. Someday we’ll be back to normal.
Yes, some day we will be back to normal. What is that again?
I think ‘normal’ might not be the ‘normal’ we all remember as ‘normal’!
nice stuff and very nice information and also useful for those who want to invest in real estate field.