• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Sacramento Appraisal Blog | Real Estate Appraiser

Real estate appraisals for divorce, estate settlement, loans, property tax appeal, pre-listing and more. We cover Sacramento, Placer and Yolo County. We're professional, courteous and timely.

  • About
  • Appraisals
  • Order
  • Ask Ryan
  • Areas
  • Classes
  • Press
  • Trends
  • Share
  • Contact

Percentage of bank-owned sales in Elk Grove

Unpacking the Elk Grove real estate market

May 5, 2011 By Ryan Lundquist 1 Comment

What’s been happening in the Elk Grove real estate market? Let’s take a look at all sales over the past few years and unpack some data too.

Analysis of 36 months of sales in Elk Grove:

  • Prices have clearly declined over the past three years.
  • Short sales have increased through the years (see my post yesterday for specific percentages for short sales and foreclosures). 
  • Foreclosures have decreased in percentage over the past three years.
  • Typical non-distressed sales tend to sell at higher levels than bank-owned (REO) and short sale properties. The blue dots above represent all typical sales, and the top end of the market is dominated by blue. That says something, don’t you think?

Current real estate data in Elk Grove:

  • 41% of all sales in Elk Grove last year were bank-owned.
  • 32% of all sales in Elk Grove last year were short sales
  • 693 sales in Elk Grove over past 90 days.
  • 340 current active listings
  • 272 current active short sale listings
  • 392 current active short sale contingents (in contract already)
  • 409 pending listings
  • $68,250 was the lowest sale (only 14 sales under $100K)
  • $1,330,700 was the high sale.
  • There were two sales above $1,000,000 over the past year. One house was nearly 5,500 square feet on 17 acres and the other was nearly 7,000 square feet on 5 acres.
  • 10.3% unemployment rate in Elk Grove (March 2011)
  • 12.6% unemployement rate in Sacramento County (March 2011)
  • Median price levels for both the 95624 and 95758 zip codes are currently hovering around 2001 levels. The median price for 95624 in March 2011 was $224,900 and the median price for 95758 in March 2011 was $182,600.

The market in Elk Grove is competitive right now since there are many properties in contract (contingent status) or already pending. Prices are lower than they’ve been in years, so buyers are absorbing properties. However, with an unemployment rate at 10.3% and the market still being considered distressed due to a high level of foreclosures and short sales, property values have been struggling still in many pockets of Elk Grove. 

Let me know if you have any questions or insight.

If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our appraiser website or via Facebook.

Share:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)

Filed Under: Market Trends Tagged With: Appraisal Service in Elk Grove, data, decline of property value in Elk Grove, Distressed Properties, Elk Grove real estate appraiser, Elk Grove real estate appraisers, Elk Grove real estate market, Lundquist Appraisal Company, Percentage of bank-owned sales in Elk Grove, property trends in Elk Grove, REO vs Short Sales

Positive real estate news in Elk Grove

May 4, 2011 By Ryan Lundquist 3 Comments

How about some positive real estate news? Let’s unpack all sales in Elk Grove to see the trend with bank-owned vs. short sale properties over the past 36 months. 

The overall percentage of bank-owned sales has decreased in Elk Grove during the last few years. At the same time, short sales have more than doubled in 36 months. Additionally, the total percentage of distressed sales (REO + SS) has decreased from 86% three years ago to 73% over the past two consecutive years. I’ll unpack more of the market in coming days too to share some of the trends I see in the appraisal trenches of Elk Grove. The data above is based on all detached SFR sales in Sacramento MLS

What do you make of the numbers above?

If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our appraiser website or via Facebook.

Share:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)

Filed Under: Appraisal Stuff, Market Trends, Resources Tagged With: Appraisal Service in Elk Grove, data, Distressed Properties, Elk Grove real estate appraiser, Elk Grove real estate appraisers, Elk Grove real estate market, Lundquist Appraisal Company, Percentage of bank-owned sales in Elk Grove, REO vs Short Sales, Sacramento MLS

Primary Sidebar

Connect with Ryan

 Facebook Twitter LinkedIn YouTube Instagram

Subscribe to Weekly Post

* indicates required

Search this site

Blog Categories

  • Appraisal Stuff (406)
  • Bankruptcy (3)
  • Divorce (4)
  • Estate Settlement (6)
  • FHA Appraisal Articles (56)
  • Internet (53)
  • Market Trends (476)
  • Photos from the Field (126)
  • Property Taxes (70)
  • Random Stuff (230)
  • Resources (566)
  • Videos (161)

Blog Archives: 2009 – 2019

Lundquist Appraisal Links

  • Appraisal Order Form
  • Appraisal Website
  • Rancho Cordova Appraiser Website
  • Sacramento Appraisal Blog Sitemap
  • Sacramento Real Estate Appraiser Facebook Page
  • Twitter: Sacramento Appraiser (@SacAppraiser)
  • YouTube: Sacramento Appraiser Channel

Most Recent Posts

  • The housing market nobody predicted
  • Real estate trends to watch in 2021
  • You carried me & a spreadsheet for Christmas
  • Real estate drama (and a market update)
  • Goodbye California. Is everyone leaving?
  • How much are buyers paying above the list price?
  • What would happen to the housing market if we went on lockdown again?
  • Overpricing, multiple offers, & hot ranges
  • Why your home isn’t worth 16% more today
  • Condos, halfpipes, & cooling 2-4 units

Disclaimer

First off, thank you for being here. Now let's get into the fine print. The material and information contained on this website is the copyrighted property of Ryan Lundquist and Lundquist Appraisal Company. Content on this website may not be reproduced or republished without prior written permission from Ryan Lundquist.

Please see my Sharing Policy on the navigation bar if you are interested in sharing portions of any content on this blog.

The information on this website is meant entirely for educational purposes and is not intended in any way to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or any other potential real estate or non-real estate purpose. The material found on this website is meant for casual reading only and is not intended for use in a court of law or any other legal use. Ryan will not appear in court in any capacity based on any information posted here. For more detailed market analysis to be used for an appraisal report or any appraisal-related purpose or valuation consulting, please contact Ryan at 916-595-3735 for more information.

There are no affiliate links on this blog, but there are three advertisements. Please do your homework before doing business with any advertisers as advertisements are not affiliated with this blog in any way. Two ads are located on the sidebar and one is at the bottom of each post. The ads earn a minor amount of revenue and are a simple reward for providing consistent original content to readers. If you think the ads interfere with your blog experience or the integrity of the blog somehow, let me know. I'm always open to feedback. Thank you again for being here.

Copyright © 2021 Sacramento Appraisal Blog