Zillow Rates All Three Elk Grove Zip Codes as Very Hot Real Estate Markets

August 7, 2017 |

In its most recent monthly rating of real estate activity, Seattle-based Zillow has rated all three of Elk Grove's zip codes as very hot.

Zip code 95624, is reported to have a median home value of $402,300. This is an upgrade from the June report which rated the zip code as hot and the May report which rated the area as cool. 

According to Zillow, home values in this 95624 are up 8.8-percent over the last 12 months and are expected to increase 5.0-percent over the next 12 months. Any market rated above hot is considered to be a sellers' market.

In zip code 95757 for the period ending July 31, median prices were listed as $440,300 with a price growth of 8.2-percent over the last 12 months and an expected increase of 4.6-percent over the next 12 months. 

The City's third zip code, 95758 continued its streak of being rated very hot with a median price of $363,700 and with a 10.8-percent price increase in the last 12 month reporting period. Over the next 12 months, housing prices in this area are expected to increase 5.8-percent.

In all three Elk Grove zip codes, housing prices have steadily increased since bottoming out in May 2012. Over the next 15 months, all three zip codes Zillow forecasts prices to reach pre-Great Recession levels.

Price per square foot for the three areas are $207 in 95758, $190 in 95757, and 95624 reports $211. The three zip code average price per square foot is $202 according to Zillow.