County: Sacramento September 2014

People are always asking about the market. Here is the market report for Elk Grove for your information. I would be happy to provide an update on the market for you each month. Just send me an email to request it.

Trending Versus*: Trending Versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear Median List Price of all Current Listings $289,950           Average List Price of all Current Listings $352,399           September Median Sales Price $265,750 $259,000 September Average Sales Price $297,254 $284,350 Total Properties Currently for Sale (Inventory) 3803           September Number of Properties Sold 1346     12920   September Average Days on Market (Solds) 41 44 Asking Price per Square Foot (based on New Listings) $179 $175 September Sold Price per Square Foot $174 $168 September Month’s Supply of Inventory 2.8 2.7 September Sale Price vs List Price Ratio 99.1% 99.0% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date | Arrows indicate if values are higher (up), lower (down) or unchanged (flat)

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Property Sales September property sales were 1,346, down from 1,534 in September of 2013 and -12.9% lower than the 1,545 sales last month. September 2014 sales were at their lowest level compared to September of 2013 and 2012. September YTD sales of 12,920 are running -11.2% behind last year’s year-to-date sales of 14,547. Prices The median sales price in September was $265,750, up 10.0% from $241,650 in September of 2013 and up 1.2% from $262,500 last month. The average sales price in September was $297,254, up 10.1% from $269,914 in September of 2013 and up 2.2% from $290,754 last month. September 2014 ASP was at highest level compared to September of 2013 and 2012. Inventory & MSI The total inventory of properties available for sale as of September was 3,803, down -10.9% from 4,267 last month and down -7.9% from 4,127 in September of last year.September 2014 Inventory was at the lowest level compared to September of 2013 and 2012.A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2014MSI of 2.8 months was at its highest level compared with September of 2013 and 2012. Market Time The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for September was 41, down from 43 days last month and up from 38 days in September of last year. The September 2014 DOM was at a mid range compared with September of 2013 and 2012. Selling Price Per Square Foot The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The September 2014 selling price per square foot of $174 was up 1.2% from $172 last month and up 8.7% from $160 in September of last year. Selling Price vs Listing Price The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. TheSeptember 2014 selling price vs list price of 99.1% was down from 99.2% last month and down from 100.7% in September of last year. Inventory / New Listings / Sales This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings inSeptember 2014 was 2060, down -8.6% from 2,254 last month and up 0.0% from 2,059 in September of last year.

© 2014 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. BRE # 00313415Based on information from MetroList Services, Inc. for the period 3/29/2005 through 9/30/2014. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.

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As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

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