Zillow rates real estate activity in all Elk Grove's three zip codes as warm

For the period ending July 31, 2019, Seattle-based Zillow.com rated real estate activity in all three Elk Grove zip codes as warm. A warm rating is considered slightly favorable to sellers.  

The report estimates that the median value in 95757, which is rated as warm, is $483,800 and home values have increased 1.2-percent in the last 12 months. Based on their analytics, Zillow estimate prices will decrease 0.2-percent within the next year, and in a sign of slowing activity, 18.1 percent of listings had price cuts, which is an increase from 114.2-percent in the March 2019 report.  

The balance of the Laguna area in zip cope 95758, which Zillow rated as warm, saw a median value of $400,400 and home values had increased 2.5-percent annual increase and was the largest increase of the city's three zip codes. Median values are estimated to increase 0.3-percent in the next 12 months, and 18.1-percent of listing have had listing price cuts, which is lower than June's 12.7-percent. 

In the city's more established neighborhoods in East Elk Grove and the rural Sheldon area, or Old Elk Grove as widely known, the report showed the median value of $437,500 and prices have appreciated 1.9-percent on an annual basis and was rated as warm. Prices are expected to appreciate 0.3-percent in the next 12 months while 14.7-percent had listing price cuts, which decreased increased from 16.6-percent in June.  

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 June.  

Copyright by Elk Grove News © 2019. All right reserved.

Post a Comment Default Comments

Follow Us



Elk Grove News Minute

All previous Elk Grove News Minutes, interviews, and Dan Schmitt's Ya' Gotta be Schmittin' Me podcasts are now available on iTunes

Elk Grove News Podcast