Laguna real estate market warm, Elk Grove neutral in recent Zillow report

For the period ending November 2018, real estate resale activity in the Elk Grove's three zip codes ranges from warm to neutral. That assessment comes from Seattle-based Zillow.com.

Elk Grove's 95757 and 95758 zip codes were rated as warm, while 95624 was neutral. 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 the median listing price in 95757 is $490,495 and home values have increased 4.5-percent in the last 12 months. Based on their analytics, Zillow estimate prices will increase 3.3-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 listing prices of $398,999 and home values have increased 5.3-percent annual increase. Median values are estimated to increase 2.8-percent in the next 12 months.

In the city's more established neighborhoods in East Elk Grove and the rural Sheldon area, or Old Elk Grove as it is more commonly referred too, the report showed the median listing price of $439,000 and prices have appreciated 4.7-percent on an annual basis and was rated as neutral. Prices are expected to appreciate 3.6-percent in the next 12 months.

In light of the ongoing affordable housing crisis in Elk Grove and throughout the state, Zillow also reported median rental prices.  Zillow said the city's median rental rate is $1,986.

Individual zip codes had the follow median rental rates; 95624 - $1,995  ; 95757- $2,087; and 95758 - $1,795.