Elk Grove
Weekly newsletter · Elk Grove, CA · Issue 002 |
Hi Ellen, Mid-September in Elk Grove brings a clearer picture of our market. Inside: what 118 price cuts are telling us, four local houses worth a look, an honest word about our own board, and upcoming local events from District56 to Old Town Plaza. |
The market What 118 price cuts are telling us There are 264 single-family homes for sale in Elk Grove right now. 25 of them just listed. On top of those houses, 12 condos and townhouses are on the market. 11 of the 264 houses have an open house this weekend. Here is the detail I pay attention to: 118 of those 264 homes have dropped their price at least once. Nearly half.
A lower price is a clear sign that a seller wants to move forward. If you are shopping for a home, those 118 houses are where I would look first. If you plan to sell, it shows why pricing correctly from day one matters. Across the 264 houses, the median asking price is $669,000. The average asking price is higher at about $760,000 because the top end pulls it up. Prices run from $399,999 up to $4,999,999. The houses average 2,306 square feet, which comes out to about $329 a foot. If you want to know what this market means for your own street, send me your address. I will pull the recent sales and write back to you directly.
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The week in real estate What the latest local, state, and national real estate news means for you Close to home, Sacramento County saw a typical summer dip while staying in seller territory. The Sacramento Association of Realtors reported a July median sales price of $542,000 in Sacramento County, down 3% from a year earlier and 5.7% from June, on 1,023 closed sales. Active listings rose to 2,408 and homes took a median 33 days to sell. SAR called July a seller's market with seasonal softening typical of summer. Later state numbers from the California Association of Realtors showed the county median at $549,000 in August, with sales up 2.0% from a year ago and down 5.6% from July. For an Elk Grove owner, local prices remain grounded despite monthly shifts. Across California, home sales and prices rose in August. The California Association of Realtors reported August home sales at a seasonally adjusted annualized pace of 269,620, up 1.4 percent from 265,780 in August 2025. The statewide median price reached $901,420, up from $900,620 a year earlier. Unsold inventory stood at 3.7 months, median days on market was 28, and the average 30-year fixed rate was 6.67 percent. Meanwhile, Insurance Business reported that the California Legislature passed three home insurance bills awaiting the governor: SB 877 requiring claims documents within 15 days, SB 878 requiring claim decisions within 40 days with 20% annual interest on late undisputed payments, and SB 1301 requiring six months' notice before a nonrenewal. The FAIR Plan exposure was roughly $768 billion by mid-2026 across nearly 697,000 policies, with a 29.1% average FAIR Plan rate increase taking effect in October 2026. For buyers and owners, insurance rules are becoming clearer even as rates adjust. Nationally, mortgage rates showed upward movement in mid-September. Yahoo Finance reported that the 30-year fixed rate on Zillow's lender marketplace rose 11 basis points to 7.02% on Tuesday, September 15, with the 15-year fixed at 6.32% and the 30-year refinance rate at 6.98%. In weekly data, Freddie Mac put the average 30-year fixed rate at 6.76% for the week of September 10, up from 6.71% the week before and 6.35% a year ago. The 15-year fixed averaged 6.09%, up from 6.04% last week and 5.50% a year ago. Chief economist Sam Khater noted that shopping around for the best rate can save buyers thousands. For anyone looking to purchase in Elk Grove, comparing lender quotes remains essential. Together, these reports show a market that is moving carefully rather than rushing. Local inventory gives buyers options, while statewide demand keeps values steady. If you are planning a move, knowing your exact monthly numbers helps you make a firm decision. Every figure above is quoted from a named publisher and listed, with its link, on this issue's proof sheet. |
On the market with us Our listings this week We have no single-family listings in Elk Grove this week. What follows are the three listings our office has nearby.
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Also on the market in Elk Grove Four houses on the market this week Here are four local homes that show the range of what is available right now.
Open house this weekend with 3 bedrooms and 1 bath across 1,062 square feet. A good fit if you are looking for a practical starter home.
Also open this weekend, featuring 4 bedrooms and 5 baths in 6,500 square feet. This is the largest house on the list.
Just listed with 4 bedrooms and 2 baths in 1,739 square feet. It gives you more space than the first house.
Offers 2 bedrooms and 1 bath in 936 square feet. It is the smallest house available of the four.
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The show If you'd rather listen
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Out in Elk Grove Around town in Elk Grove  Thursday, September 17: Paint Horse Show at Brookside. Four days of Paint horses at Brookside Equestrian Park, from 8 in the morning. Free to watch from the rail.  Thursday, September 17: Beginning Acrylic at the Fine Arts Center. A two hour class with Teresa Gutierrez on Elk Grove Blvd, 2 to 4. $65, no experience needed.  Thursday, September 17: Zoppe Italian Family Circus at Elk Grove Park. The one-ring family circus under the tent, Thursday through Monday, September 21. Evening shows at 6, three shows Saturday and two Sunday. $28 to $48.  Saturday, September 19: Elk Grove Certified Farmers Market. Laguna Gateway Center, 8 to noon, every Saturday. The one on Laguna Blvd.  Saturday, September 19: Fall Tree Top at the Fine Arts Center. A fall painting class with Justine Thompson, 11 to 2. $65.  Saturday, September 19: Sacramento Open Studios in Elk Grove. Local artists open their studios on La Valencia Court, 10 to 5, Saturday and Sunday. Free.  Sunday, September 20: Mid-Autumn Moon Festival at District56. Lanterns, food and music at the Civic Center, 2 to 8:30.  Monday, September 21: Historical Society Speaker Series. The Foulks family wagon train, told at the Elk Grove Park Pavilion, 6 to 8. Free.  Tuesday, September 22: Elk Grove History Collage. A free drop-in collage afternoon at the Fine Arts Center, 11 to 4, built around the town's own history.  Friday, September 25: Haunted History Tour at Old Town Plaza. A walk through the old town's stranger stories, Railroad Street, 5:30 to 8.  Friday, September 25: Greek Church Pen and Ink. Sam Gonzalez teaches pen and ink at the Fine Arts Center, noon to 3:30. $65.  Saturday, September 26: Beef and Reef Bash. Elk Grove Rotary's dinner at SES Hall, 5 to 10. The fundraiser locals plan around.  Saturday, September 26: Elk Grove Fall Jazz Festival. The fourth year at the Laguna Town Hall Amphitheatre, 11:30 to 7. Tickets from $60.  Sunday, September 27: Bayanihan Festival. Filipino food, dance and music at District 56, 11 to 4. |
That is the week in Elk Grove real estate. If you have questions about these numbers or your street, write back anytime.
Weichert, Realtors® · Sierra Pacific Group, 705 Gold Lake Dr., Suite 250, Folsom, CA 95630 · 916-847-5822 · DRE #01879787. Each office is independently owned and operated. Listing information provided courtesy of MetroList Services, Inc. Listings held by other brokerage firms are identified with the name of the listing broker. Information deemed reliable but not guaranteed. Equal Housing Opportunity. All real estate advertised here is subject to the Federal Fair Housing Act. Bureau of Record is a product of Enterprise Real Estate Services, Inc. · Unsubscribe |