Carmichael Housing Market Data for April 2023
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Median Housing Market Data
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Carmichael housing prices are down 5% from this same time last year. We are currently in the prime housing market season right now. Let’s look at the numbers and see what the market is doing.
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The active listings (inventory) and the DOM are like the heartbeat of the housing market. The inventory normally increases this time of year. It has increased slightly but not much. This is highlighted in green below. The DOM normally decreases this time of year. It has decreased but not much. The heartbeat is there, but it’s not a strong housing market.
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Multiple offers are another indicator of what the housing market is doing. When inventory is low, there tend to be more multiple offers on homes. This is what drives housing prices up so quickly. Of the homes currently pending, 81% have more than one offer. Last couple of months, this number was in the 50% range. This indicates that housing prices could start moving upward again.
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Comparing the list price to the selling price in April in red below. The list price is still higher than the selling price. This indicates that many homes are selling below the list price. We will have to look at these numbers next month. With the multiple offers so high, it would be an indicator that home prices could start to increase again. Last year in April, the list price was lower than the selling price. Indicating the homes were selling above the list price.
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In the current housing market, one thing stands out. The total number of home sales is way down from last year. In the previous 6 months, 201 homes have sold in Carmichael. Last year during the same time, 367 homes sold. This is likely happening because of the higher interest rates. Any homeowner that was thinking of selling may know what. They don’t want a higher monthly payment because of the higher interest rates.
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The Carmichael housing market may be starting to heat up again. Meaning housing prices may begin to increase again. If homebuyers stop looking because of higher monthly mortgage payments. The housing market will shift into a decline. If you are thinking of selling, now is the time.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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February-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
28 |
$661,995 |
$0 |
22 |
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Pending |
35 |
$524,999 |
$0 |
21 |
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Sold |
32 |
$510,000 |
$481,500 |
20 |
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Sold 2022 |
49 |
$495,000 |
$510,000 |
7 |
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March-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
22 |
$684,000 |
$0 |
33 |
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Pending |
39 |
$558,888 |
$0 |
10 |
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Sold |
33 |
$520,000 |
$517,000 |
16 |
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Sold 2022 |
49 |
$556,900 |
$560,000 |
8 |
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April-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
34 |
$765,000 |
$0 |
18 |
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Pending |
36 |
$549,450 |
$0 |
6 |
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Sold |
33 |
$558,888 |
$550,000 |
10 |
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Sold 2022 |
65 |
$549,900 |
$576,000 |
6 |
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I want to put you in the best possible position to get a home at the best price. I have a method to bring you the best price possible on a home without over-biding. Please feel free to give me a call, text, or email to find out how my system works.
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We can put a plan together to save you as much money as possible in these circumstances. It is possible that waiting to buy or sell a home may help you have more fruit later. Your family home is one of your largest investments. It's my job to ensure that it yields the highest ROI. That means making smart decisions that will produce fruit in the future. Planning is the best way to make this happen.