Carmichael Housing Market Data for August 2022
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Median Housing Market Data
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Carmichael housing prices are up 👆 10%. This is comparing July home sales this year to July last year. Home prices are down comparing May to July.
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Let’s look at what the housing market numbers are telling us. The DOM (days on market) is up (highlighted in blue below). Homes are sitting on the market longer. This is caused by more active listings (inventory), fewer home buyers, and time of the year. I’ll get back to the time of year in a minute.
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Active listings (inventory) have stayed natural for the most part from last month.
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Now let’s talk about the time of year. The time of year affects the housing market and the interest rate hikes. Once the children go back to school, the housing market will usually cool off 💦🔥. It can even take a big drop.
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Multiple offers are another area that would or could indicate a change in the housing market. The changes should show first in the homes that are pending. In May, 61% had more than one offer. In June, 54% and July had 53%. So it is trending down. Not as fast as some other areas around Sacramento.
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Of the homes that sold with multiple offers, May was at 75%. June had 60%, and July had 50% with more than one offer. Last year in July, 59% had more than one offer.
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**If you are buying a home, don’t overbid. I expect homes will sell for less than the list price soon. I have seen home buyers overpay for a home by 40k or more. Be careful!
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Major factors that go into buying a home that needs to be considered. Are the expensive things such as the HAVC, roof, fencing, condition, and water heater?
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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May-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active 72 |
70 |
$633,000 |
$0 |
14 |
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Pending 78 |
71 |
$575,000 |
$0 |
8 |
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Sold 56 |
47 |
$599,900 |
$625,000 |
9 |
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Sold 2021 |
78 |
$500,000 |
$530,000 |
6 |
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June-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
90 |
$622,000 |
$0 |
21 |
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Pending |
57 |
$619,000 |
$0 |
10 |
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Sold |
73 |
$549,000 |
$560,000 |
8 |
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Sold 2021 |
93 |
$512,500 |
$539,000 |
7 |
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July-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
86 |
$630,000 |
$0 |
31 |
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Pending |
49 |
$550,000 |
$0 |
20 |
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Sold |
48 |
$618,500 |
$620,000 |
10 |
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Sold 2021 |
82 |
$534,500 |
$565,150 |
8 |
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Average Housing Market Data
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Using the average housing market data, Carmichael home prices are up 👆 11%.
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Highlighted in blue below are the active listings. Some home sellers have had to drop prices to sell their homes. This is never a good sign for the home seller. Once you have been on the market past 14 days and it’s still not pending.
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Market conditions dictate what strategy to use when selling a home. In most cases, the longer the home is on the market, the less the seller will get for the home. Price drops are rarely good for the home seller.
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The homes that sold in July are in red below there is not as large a gap between the original price and the list price. Also, the DOM is much lower, meaning it sold within 14 days in most cases. Home sellers did a much better job pricing their homes.
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It’s hard to understand, but the home buyer controls the price of a home, not the seller.
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Many home buyers will make at least one of these mistakes when buying a home. Don’t let that be you!!!
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May-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
70 |
$781,472 |
$763,279 |
$0 |
28 |
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Pending |
71 |
$662,226 |
$651,275 |
$0 |
13 |
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Sold |
47 |
$675,315 |
$660,066 |
$680,777 |
15 |
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Sold 2021 |
78 |
$634,047 |
$628,130 |
$642,819 |
16 |
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June-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
90 |
$743,287 |
$721,870 |
$0 |
32 |
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Pending |
57 |
$670,219 |
$654,242 |
$0 |
17 |
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Sold |
73 |
$637,663 |
$632,583 |
$645,389 |
12 |
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Sold 2021 |
93 |
$592,469 |
$590,168 |
$611,208 |
15 |
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July-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
86 |
$774,560 |
$745,970 |
$0 |
42 |
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Pending |
49 |
$610,415 |
$590,404 |
$0 |
26 |
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Sold |
48 |
$668,144 |
$652,475 |
$660,868 |
17 |
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Sold 2021 |
82 |
$584,871 |
$580,116 |
$595,269 |
15 |
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When comparing the last 6 months of home sales this year to the same time last year.
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With the housing market changing, these numbers will not show as much as monthly.
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Carmichael housing prices are up 👆 10%. The number that stands out is the number of home sales. They are down from last year. Total home sales have dropped drastically. This tells us there are fewer home buyers currently shopping.
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Carmichael |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sales Price |
DOM |
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Jun-21 |
408 |
$489,900 |
$512,500 |
6 |
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Jun-22 |
360 |
$536,500 |
$548,500 |
7 |
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Jul-21 |
419 |
$515,900 |
$540,000 |
7 |
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Jul-22 |
316 |
$589,000 |
$595,000 |
8 |
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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 get you the best price possible on a home without over-biding. Please feel free to give me a call, text, or email me 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 yield fruit in the future. Planning is the best way to make this happen.