Antelope Housing Market Data for October 2022
.
Median Housing Market Data
.
Antelope housing prices are down 👇 8%. This is comparing October home sales this year to October last year. Antelope housing prices are down 9% from August.
.
While the housing market is going through a change with the rising interest rates. This time of year, it's normal for DOM to increase, Active listings to decrease, and housing prices to dip slightly. When the children start school, the housing market slows down some. The housing market will slow down even more as we get closer to the holidays. This is highlighted in light blue and dark blue below.
.
Comparing the list price to the sales price over the last 2 months. As the list price is more than the sales price indicating more homes are selling below the list price. Current home sales are showing more concessions to homebuyers. There is a way to stop the concessions to the homebuyers!!! A good Realtor can help you here. Or at least explain it to you so you can decide what is best for you.
.
Looking at the multiple offers which play a role in housing prices. Of the homes currently pending, 52% have more than one offer. Last month the pending's had 47% with more than one offer.
.
Of the homes that sold in October, 44% had more than one offer. Last month 36% had more than one offer. Last year in October, 54% had more than one offer.
.
The multiple offers are a little strange in Antelope. Normally with this many multiple offers, the home prices would increase. But they have dropped and are continuing to fall. This could be for a few reasons. One, homebuyers are sticking to their plan and are just ready to move to the next home. There are many more homes on the market today compared to last year. This year there are 71 active listings. Last year only 8.
.
With the home prices dropping, active listings numbers should also be falling. This is highlighted in purple below. They are actually going up some. This would indicate that home sellers are overpricing their homes. Overpricing a home can lead to problems and cost you money in the end. A good Realtor will know these numbers and explain them to you. If you are a homebuyer, a good Realtor will help you not overbid on a home. I just came across homebuyers that paid about 40k more than they could have. That's a lot! I see this too often.
.
In this type of housing market and the time of year, ensuring your home looks excellent and is priced correctly is essential. There is more competition now for all home sellers. So, look at all the homes for sale that are similar to your home. All the homebuyers looking will be going to those homes, including yours. That is your competition.
.
If you are a home buyer, know the numbers and DON'T overbid. I see this too much, and I feel bad for the home buyers when I see this.
.
Marketing is critical as well. It must touch as many homebuyers as possible.
.
If you are considering selling, I have made an import do and don't list for you. This is very helpful when selling a home and can make a difference.
.
For more housing information, visit my blog at https://www.allcahomes.com/blog/.
.
|
August-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
82 |
$499,000 |
$0 |
20 |
|
Pending |
48 |
$499,450 |
$0 |
22 |
|
Sold |
43 |
$500,000 |
$510,000 |
15 |
|
Sold 2021 |
56 |
$462,500 |
$485,000 |
7 |
|
September-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
72 |
$499,000 |
$0 |
32 |
|
Pending |
45 |
$475,000 |
$0 |
23 |
|
Sold |
45 |
$499,000 |
$475,922 |
21 |
|
Sold 2021 |
51 |
$459,900 |
$500,000 |
7 |
|
October-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
71 |
$510,000 |
$0 |
30 |
|
Pending |
31 |
$475,000 |
$0 |
20 |
|
Sold |
46 |
$471,995 |
$462,500 |
23 |
|
Sold 2021 |
80 |
$492,500 |
$502,500 |
7 |