Recent Zillow report shows Elk Grove real estate market rated as cool to cold

For the period ending January 31, 2019, Elk Grove real estate resale activity in the city's three zip codes range from cool to cold. That assessment comes from Seattle-based Zillow.com.

Elk Grove's 95757 was cool while 95758 and 95624 are rated as cold. 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 $484,800 and prices have increased 3.1-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 values increase to $399,200 which represents a 4.4-percent annual increase. Median values are estimated to increase 2.7-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 $436,900 for a gain of 3.7-percent annual increase. Median prices are expected to appreciate 2.9-percent in the next 12 months.

Another measure of the market, prices per square foot for 95624, 95757 and 95758 were $220, $207, and $217 respectively (see chart above).