A look at the Housing market in Elk Grove California

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Creative Commons License photo credit: neighborhoods.org

Elk Grove, California is a city that has a small town feel, with big city amenities. The residents have worked very hard to make sure that this ambiance remains the same in the Elk Grove. Even though there has been developments and new homes built, residents are staunch about making sure that neither new home construction or burgeoning businesses don’t overtake the city. In Elk Grove you’ll find parks, wildlife and even river preserves. There’s a good deal of diversity in the area and great schools as well. Centers for higher education are also found throughout Elk Grove. Many looking to relocate to the area are drawn by the employment opportunities. The area is truly diverse in it’s people, landscape and even housing. So what does the market look like in Elk Grove, CA?

The median home price in Elk Grove is currently a little over $350k. The city has a good amount of not only single family homes, but town homes and condominiums. For the latter the median price is only around $199k. This means that it’s very affordable to live in Elk Grove, compared to many cities in the state of California. There are many new home construction sites in this quaint town. Elk Grove also has higher end exclusive areas for home buyers. And because the areas are so diverse and eclectic, new home buyers should definitely consult a qualified realtor. This is important as there are family friendly areas and areas more tailored to single living.

The end of the second quarter saw housing prices drip about two percent. There are currently only a bit over five hundred homes on the market. However, the number of foreclosures in the area is a bit over two thousand. This disproportionate number of foreclosures has hurt the view of the real estate market in Elk Grove. The market is not considered to be a sellers or a buyers market right now by Realtors. Since the area is truly diverse in not only the types of housing, but the pricing as well; hiring a great Realtor before making your Elk Grove home purchase would be ideal.