Is the Elk Grove real estate market heating up?

I have been out with buyers this past week looking at homes in the Elk Grove CA area and have been surprised at how quickly homes are selling. Although I know our Elk Grove foreclosure or bank owned listngs have been selling quickly...the last one had 15 offers within the first week it was on the market...I guess I have been surprised this weekend to see how many Elk Grove short sales have multiple offers within the first week or two that they are on the market also!

With our current inventory in the Elk Grove area down to 1.5 months and interest rates at all time low, if a home is priced right and in good condition, it is selling quickly. I was out with a first time home buyer yesterday; we found the home of their dreams and it had been active the day before. However, when I called the agent to let her know we were going to submit an offer, she said the seller had just accepted an offer. She had received 3 very good offers that morning and the seller decided not to wait!

The days of homes being on the market for weeks or even months, has passed. Buyers and agents need to pay attention to what is coming on the market every day. As a home buyer if you are not receiving daily alerts on new homes coming on the market, it is imporant to do so.