Elk Grove Market Update for Elk Grove, CA. for June 2022
By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Market Real Estate Market Update for June, 2022We have higher interest rates, inflation at a multi-decade high, a stock market that has been correcting, cryptocurrencies have been falling and even the bond market is slipping. I thought that all would have impacted out market more than it has. Year over year, median and average prices were both up. We did see the median price fall, month over month, fall from $685,000 to $670,000. The average price of sold homes held solid at $703,000, though.The days on market ticked up slightly and we do have just over a month of supply now for the first time in a very long time. A balanced market is generally thought of as three months of supply so it is still a strong seller's market. It will be interesting to see how the trend contin...
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