As rated by Zillow, cool to cold real estate activity trend continues in Elk Grove

For the period ending March 31, real estate activity in Elk Grove's three zip codes continues to be rated as either cool or cold, which is considered more favorable conditions for buyers. Those are the findings of the monthly survey by Seattle-based for the period ending March 31, 2019, for the city's three zip codes areas. 

The report estimates that the median value in 95757, which is rated as cool, is $486,600 and home values have increased 3.3-percent in the last 12 months. Based on their analytics, Zillow estimate prices will increase 1.6-percent within the next year, and in a sign of slowing activity, 12.7 percent had price cuts, which is a decrease from15.6-percent in the February 2019 report.  

The balance of the Laguna area in zip cope 95758, which Zillow rated as cold, saw a median value of $400,300 and home values had increased 4.2-percent annual increase and was the largest increase of the city's three zip codes. Median values are estimated to increase 1.7-percent in the next 12 months, and 16.7-percent of listing have had listing price cuts, which is lower than February's 17.4-percent. 

In the city's more established neighborhoods in East Elk Grove and the rural Sheldon area, or Old Elk Grove as it is now known, the report showed the median value of $439,600 and prices have appreciated 3.8-percent on an annual basis and was rated as cool. Prices are expected to appreciate 1.8-percent in the next 12 months while 11.9-percent had listing price cuts, which fell from 17.4-percent in February.  

Regarding so-called underwater mortgages, the rates of homes with negative equity in 95624, 95757, and 95758, respectively is 5.2, 4.5, and 6.1-percent, all unchanged from February.  


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