Elk Grove's 'Laguna Ridge Village' Rated as One of Three Hottest Neighborhoods in Sacramento Real Estate Market

August 19, 2017 | 

Elk Grove's "Laguna Ridge Village," as its called in their report, is one of the three hottest real estate neighborhoods in the Sacramento region. That determination was reported by Redfin in their broader report listing the hottest 10 neighborhoods nationally.

In designating the three busiest neighborhoods in price growth, Seattle-based Redfin real estate broker rated, in order, Sacramento's Hollywood Park; Roseville's Olympus Pointe; and Elk Grove's Laguna Ridge Village. The three Sacramento area neighborhood were part of Redfin's 5th annual Hottest Neighborhoods report.  

That report, which was published last January, identified the 10 neighborhoods nationally most likely experience the fastest price appreciation. One of the neighborhoods mentioned in that report included Hollywood Park, which was ranked eighth.

Along with Hollywood Park ranking in the top 10 nationally, the top three Sacramento neighborhoods predicted to show the fastest appreciation included Midtown and Tahoe Park. In making that assessment, Redfin agent Matt Jones predicted the three neighborhoods would appreciate based on their proximity to Downtown Sacramento.

"A lot of the buyers I’ve worked with appreciate the unique older homes there and they are willing to sacrifice certain other amenities (like higher Walk Score ratings) in order to have charming homes with character that are still affordable and just a ten minute commute to some of the hippest areas in Sacramento," Jones said of Hollywood Park and his analysis. "While Hollywood Park isn’t necessarily known for its walkability, there is a budding commercial district that I anticipate will continue to grow as the popularity of the neighborhood also increases.”

In a mid-year analysis covering the February through July, Hollywood Park performed as predicted showing a 6.6-percent price growth with an off-market median pricing of $362,500. Locally, Sacramento's Midtown and Tahoe Park neighborhoods were replaced with Roseville's Olympus Point and Elk Grove's Laguna Ridge Village.

While Hollywood Park did as predicted, it did not make it to the top 10 nationally highest appreciated neighborhoods in the mid-year performance analysis. That list includes one California neighborhood, North Shoreview in San Francisco which experienced a 21.2-percent growth in median off-market home values. 

For the end of year predictions, Redfin identified five California neighborhoods in Oakland, San Diego, San Francisco and San Jose, among the top 10 expected to show the great median price appreciation.