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

May 5, 2018 |

In their monthly resale activity report for the three zip codes in Elk Grove, Seattle-based Zillow rated the city as ranging from warm to very hot for the period ending March 31. A very hot rating denotes a market favoring sellers while a warm market indicates a balance between buyers and sellers. 

Elk Grove's 95757 and 95758 zip code was rated as very hot, while 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, the rural Sheldon area and well as portions outside of city limits toward Sloughhouse comprises the entire 95624 zip code. 

The report estimates that median home value in 95757 is $477,864 and prices have increased 8.4-percent in the last 12 months. Based on their analytics, Zillow estimate prices will increase 5.9-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 $389,354 which represents a 9.4-percent annual increase. Median values are estimated to increase 6.0-percent in the next 12 months.

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 9.4-percent annual increase and was rated as very hot. Prices are expected to appreciate 6.0-percent in the next 12 months.    

In another measure of the market, prices per square foot for 95624, 95757 and 95758 were $215, $206, and $216.