Active listings fell 9.2% year-over-year in the three months ending May, keeping Elk Grove a tight sellers' market despite a recent rebound from the winter low.
Listings in the college town are clearing in just 11 days, nearly four days quicker than last spring, even as inventory and sales both climbed.
Just nine homes changed hands in the three months ending May, down from 23 a year earlier, while the median sale price rose 10% to $671,598.
Closings in the small Placer County town fell sharply from a year ago, but the homes that did sell traded in a fraction of the time.
Median sale prices rose modestly year-over-year in the three months ending May, even as inventory grew and homes sold faster than a year earlier.
The typical home sold for almost $44,000 less than a year earlier, even as buyers returned in greater numbers and snapped up listings faster than they did in April.
The City Council reserved local subsidy dollars for a new affordable rental project in Westpark and received a quarterly briefing on rental assistance, while the Planning Commission cleared a home addition on South Lincoln Street.
The City Council pushed a decision on a new Toll Brothers small-lot neighborhood to June 23, gave final approval to an annual special tax in Alder Creek West, and locked in $200,000 for free home repairs for low-income seniors.
The City Council approved final maps and construction agreements for two adjacent subdivisions in the long-planned Rio Del Oro community, the last paperwork step before homes can be built.
City Council examined yearly performance of Sacramento's main affordable housing programs, while planners take up a revised plan for the Deer Creek Plaza site. A routine ethics-code update for the city's housing agency also moved forward.