Homes For Sale in Elk Grove, CA
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Are you looking for a new home in Elk Grove, CA?
The suburban city of Sacramento has long been considered one of the best places to live in California. Located south of the state capital, it was one of the fastest growing cities in the U.S. in the early 2000’s and is still one of the hottest housing markets in the state.
Overview of Elk Grove, CA
Despite Elk Grove’s sizable population of nearly 175,000 people, the city still retains a small-town feel. Elk Grove has convenient access to two major freeways and it’s not too far from the Sacramento International Airport, making it an ideal destination to settle down even for working professionals. The city has earned several accolades and ranks highly in national surveys and polls. Two such polls rank Elk Grove as the 7th cleanest city in the U.S. and as the best suburb in Sacramento for young couples. Elk Grove also has a highly rated public school system and a wide variety of recreational activities and entertainment.
Cost of Renting and Buying a House in Elk Grove
If you are looking at houses or condos for sale in Elk Grove, CA, you’ll likely need a fairly high income. Median home values are estimated to be $406,300 or almost twice that of the national median home value. Meanwhile, the median rent in Elk Grove is estimated to be nearly $1,700.
Types of Homes Available in Elk Grove
The city of Elk Grove is a family-oriented community with a wide variety of residential properties, from starter homes to ranch estates, but here are the most common types of listings you’ll find for Elk Grove:
Single-family detached homes
Elk Grove homes showcase a wide range of house styles. These range from craftsman and colonial-style homes to mid-century modern and Mediterranean-style homes. Whether you’re browsing for a starter home or for a luxury home in Elk Grove, CA, it is an ideal place to put down roots and start a family.
Current Housing Market Trend for Elk Grove
Housing markets are booming following the pandemic. The positive housing market is a blessing for homeowners looking to sell, but a struggle for those seeking homes for sale in Elk Grove, CA. New property listings and pending homes for sale in Elk Grove, CA went up by almost 25% from May 2020 to May 2021. However, due to increased demand, the overall available inventory has gone down. The available inventory dropped by 62.6% since May 2020, resulting in just 73 homes for sale in May of this year. The rising housing market has also caused the median sale price of Elk Grove homes to go up by 36.4%.
Compared to the median sale price of $440,000 in May last year, houses cost an average of $598,000 in June of this year. Although houses have generally been selling for 6.5% more than the asking price in Elk Grove, this is actually a much lower percentage than other popular or attractive neighborhoods in California.
With such high housing prices, it may be tempting to wait until the housing market stabilizes before buying since experts predict that home buying will slow down and that available inventory will go up. The only problem with this line of thinking is that someone may swoop in and buy your ideal home while you wait. Start looking now for your dream real estate!
Finding Your Perfect Home in Elk Grove
Roenspie + Johnson Real Estate can help you find just what you’re looking for and at a great price. We’re locals who know this area like the back of our hands. Whether it’s homes, apartments, or land that you’re looking for in Elk Grove, CA, we can assist you in your search.
Roenspie + Johnson Realty will help you find a home that satisfies all your requirements and that will work with your budget. Call us today at 916-698-3574 and see how we can help make your search easier!
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Find the home you want before it goes off the market.
We know that listings, especially in Galt, come on and off the market quickly. We’ll keep you promptly informed of new listings for residential and commercial properties, and with our guidance, enable you to make smart choices about your real estate purchases.