Home sales in 2017 have lagged behind 2016 all year and September was no different with a 20% drop in home sales when compared to 2016. In September 2016 there were 251 homes sold compared to 199 this year. The lack of inventory continues to push prices up and squeeze out some home buyers.
Average days on the market was 20 days and the median price was $403,000. That is up $3000 from August’s numbers. Elk Grove buyers may find some relief next spring with new home construction expected to increase. Several builders are getting ready now, including the Sterling Meadows are near the proposed outlet mall and casino, just west of highway 99.
This master plan features over 199 acres with five distinct neighborhoods containing 976 homesites, 200 apartments, a 4.5 acre neighborhood park and a 13.66 acre community park with extensive recreational features. Neighborhoods and parks are connected by meandering pathways allowing a more natural atmosphere in a suburban setting. The community is located in the growing City of Elk Grove, with easy access to the Interstate 80 and US Route 50 for a convenient commute into nearby Sacramento. Development plans have been approved and the Property is ready for development.