September has been a great month for bargain hunters in Elk Grove. Foreclosures have been most of the sales, reporting an increase of 459% in sales over last year at the same time (September 2007). And with foreclosures totaling a whopping 73.1% of all sales in Elk Grove, non-distressed properties saw a drop in their sales of about 36%

Foreclosure activity and bank-owned property sales are never good for home prices. So we saw sold price per square foot drop to $126.62 – a change of 29.4% over last September’s $179.31

Average sales price is now at $265,796. That is a drop of 28.4% over last September. Median price sits at $250,000.