Zillow Report Shows Laguna Real Estate Very Hot, Other Elk Grove Neighborhoods Warm in Monthly Report

January 27, 2018 |  

In their monthly resale activity report, Seattle-based Zillow rated Elk Grove's three zip codes as very hot, hot, and warm for the period ending December 31. A very hot rating denotes a market more favorable to sellers than buyers while a warm market indicates a balance between buyers and sellers. 

Elk Grove's 95757 zip code was rated as very hot, while 95758 was hot and 95624 was warm. Zip codes 95757 and 95758 are in the Laguna area between Highway 99 to the east and I-5 to the west while the area east of Highway 99, which includes East Elk Grove and the rural Sheldon area comprises the entire 95624 zip code. 

The report estimates that median home value in 95757 is $452,500 and prices have increased 6.8-percent in the last 12 months. Based on their analytics, Zillow estimate prices will increase 3.8-percent within the next year.

The balance of the Laguna area in zip cope 95758, which is roughly north of Laguna Boulevard to the city's northern border saw median values increase to $372,200 over the last year. Median values are estimated to increase 4.1-percent by the end of 2018 which reflects an increase of 8.1-percent.

In the city's more established neighborhoods in East Elk Grove and the rural Sheldon area, the report showed an estimated median price of $415,800 for a gain of 8.9-percent annual increase and was rated as warm. While the market is the relative coolest in Elk Grove, median prices in this area are expected to again have the most significant gains in the next 12 months going up 4.4-percent.    

In another measure of the market, prices per square foot for 95624, 95757 and 95758 were $209, $193, and $217.