Hi All -- Wow, it's almost Thanksgiving! Actually, at our house, Thanksgiving is this coming weekend. That's because Jessica will be home from Cal Poly and she won't be home on the more traditional Nov. 27. Something about a trip to Spain to visit a couple of her roommates from SLO.
Anyway, I hope this finds you all well and enjoying Fall (and, for the more sensitive and highly evolved of you, savoring yet another World Series title!).
As always, I have packed this Market Report with lots of good and, hopefully, worthwhile information about the real estate market around Elk Grove.
And, as always, I would love to talk to you or your friends, neighbors, co-workers, relatives or speaking acquaintances about the market or anything real estate-related. Fall and winter CAN be a solid season to sell or buy, partly because of the frequently less-aggressive competition. And partly, of course, because of the energy and experience of your agent and the author of this note.
In addition, we recently finished (talk about giving thanks!) completely remodeling our three bathrooms and I have a whole new stable of craftsmen (craftspersons?) who do fantastic work from paint to tile to plumbing and electrical. I also have a glowing recommendation, from a treasured client, for a licensed handyman who is building a shed/casita (which looks great) in her back yard. He does everything from repairs to flooring and paint to HVAC repairs and my friend/client Renee says he is magnificent.
But please indulge me for a couple of paragraphs and let me type about how I do business. I don't usually do this in the Market Report, but what the heck.
One fact that jumps out in the data below is that Days On Market for listings is growing. It also jumps out in neighborhoods like mine in Camden Passage and elsewhere in Elk Grove where I focus my business. For Sale signs are lingering in front of houses longer than in recent memory.
The average last month in EG was 47 days.
My listings generally sell in less than half that time. Why is that, you might (or should) ask?
I think it is because I don't have 25 listings at a time. Or even a dozen. So I don't sell 10 houses a month. But I spend a lot of time with each of my listings -- marketing, holding open houses, walking the neighborhood and inviting folks to "pick your neighbors." And it seems to work.
It is the same reason that I won't sign up legions of buyers all at once. My business is based on lavishing attention on each and every client. It won't make me a millionaire any time soon, but it results in plenty of contented clients. Feel free to look on my Web site, www.bobwalter22.com, and see what some of them have to say. Or call me and I can let you call some of them.
End of commercial. Thanks for hanging on for this longer-than-usual message.
Whenever and wherever you choose to celebrate, have a blessed Thanksgiving. If you are at all like my family, it will take quite a while to list everything for which to be thankful.
Catch up to you next month.
Cheers,
Bob
Zip Code: 95624, 95757, 95758, 95829
-- Median List Price of all Current Listings $352,000
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Average List Price of all Current Listings $397,419
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October Median Sales Price $307,500
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October Average Sales Price $319,383
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Total Properties Currently for Sale (Inventory) 515
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October Number of Properties Sold 219
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October Average Days on Market (Solds) 47
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Asking Price per Square Foot (based on New Listings) $173
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October Sold Price per Square Foot $165
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October Month's Supply of Inventory 2.4
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October Sale Price vs List Price Ratio 99.0%
Property Sales
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October property sales were 219, down from 256 in October of 2013 and -2.2% lower than the 224 sales last month.
-- October 2014 sales were at their lowest level compared to October of 2013 and 2012.
-- October YTD sales of 2,185 are running -11.7% behind last year's year-to-date sales of 2,474.
Prices
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The median sales price in October was $307,500, up 9.8% from $280,000 in October of 2013 and up 0.8% from $305,000 last month.
-- The average sales price in October was $319,383, up 3.2% from $309,566 in October of 2013 and down -3.6% from $331,291 last month.
-- October 2014 ASP was at highest level compared to October of 2013 and 2012.
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