Home Values

Elk Grove Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$333,500

  • 7.1% 1-year change
  • 5.2% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in Elk Grove is $333,500. Elk Grove home values have gone up 7.1% over the past year and Zillow predicts they will rise 5.2% within the next year. The median list price per square foot in Elk Grove is $153, which is lower than the Sacramento Metro average of $163. The median price of homes currently listed in Elk Grove is $318,000 while the median price of homes that sold is $314,000. The median rent price in Elk Grove is $1,575, which is higher than the Sacramento Metro median of $1,345.

Foreclosures will be a factor impacting home values in the next several years. In Elk Grove 1.9 homes are foreclosed (per 10,000). This is lower than the Sacramento Metro value of 3.8 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Elk Grove is 5.2%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Elk Grove homeowners underwater on their mortgage is 15.6%, which is lower than Sacramento Metro at 15.7%.

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Relative ZHVI
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Elk Grove Market Overview

Data through Dec 31, 2014
  • $333,500 ZHVI
  • 5.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $318,000 Median listing price
  • $314,000 Median sale price
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Elk Grove Market Health

Data through Dec 31, 2014
  • 6.4/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 15.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 5.2% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.9 homes Elk Grove
3.8 homes Sacramento Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Wilton $548,700
Vineyard $302,800
Mather Air Force Base $302,600
Name Median ZHVI
Galt $261,000
Sacramento $258,000
Arden-Arcade $245,500
Name Median ZHVI
La Riviera $239,700
Rosemont $234,600
Florin $184,700

Listings & Sales

Data through Dec 31, 2014
  • $153 Median list price / sq ft
  • $164 Median sale price / sq ft
  • 12.0% Listings with price cut
16.0%
Sold below listing
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Elk Grove Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,661 Elk Grove
    $1,622 Sacramento Metro
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,575 Rent list price
  • $0.88 Rent list price / sq ft
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