Real Estate Market Conditions in Elk Grove Range From Very Hot to Neutral

November 7, 2017 |

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

For the period ending September 30, zip code 95624, which is east of Highway 99, was rated as neutral while 95757 and 95758, which lie between Highway 99 and Interstate 5 are rated very hot and hot respectively.

Zip code 95624, is reported to have a median home value of $408,300 and in terms of resale activity is rated neutral. According to Zillow, home values in 95624 are up 9.3-percent over the last 12 months and are expected to increase 4.3-percent over the next 12 months. 

While the rural and older portions of Elk Grove in the 95624 moved into the neutral classification, the city's two other zip codes - 95757 and 95758 continue to retain very hot and hot ratings. In zip code 95757, which was ranked as very hot for the period ending September 30, median prices were listed as $447,000 with a price growth of 7.6-percent over the last 12 months and an expected increase of 3.8-percent over the next 12 months. 

Elk Grove's third zip code, 95758 continued to be rated hot with a median price of $366,300 and with a 9.1-percent price increase in the last 12 month reporting period. Over the next 12 months, housing prices in this area are expected to increase 4.2-percent.

Price per square foot for the three areas are $213 in 95758, $194 in 95757, and 95624 reports $208.  

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