Carmichael Housing Market Data for February 2023
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Median Housing Market Data
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Housing prices dropped 👇 6% in Carmichael from this time last year. So with the pick housing market here, where is the market heading? Let's look at a few numbers.
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The active listings (inventory) and DOM give us some insight. This is the time of year when inventory starts to increase in a normal market. It has continued to drop in Carmichael. This is highlighted in blue below.
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A normal housing market would see the DOM start to decrease. The DOM did drop in February. This is highlighted in green below. This tells us that more people are out looking to buy a home.
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Multiple offers are another data point to watch. Of the homes currently pending, 51% had more than one offer. Last month the homes pending were at 57%—such a small drop.
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Of the homes that sold in February, 59% had more than one offer. Last month 33% had more than one offer. These numbers are way down from last year. 82% had more than one offer last year.
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One concerning point is the continued drop in housing prices. Housing prices are down 👇 9% from December in Carmichael. We will need to watch these numbers in the coming months. I believe more homebuyers are buying smaller, lesser expensive homes. This is to keep their monthly mortgage payments affordable with the high-interest rates.
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This is the time to sell your home if you are considering it. This time of year, you will receive the best possible price. If inventory stays low, it will only help home sellers.
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I do offer my clients a "Rejuvenation Program" to help with updates when you are ready to sell. This can help home sellers receive higher offers and for their homes to sell quickly. There are restrictions on the program. Please call for details.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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December-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
58 |
$599,000 |
$0 |
53 |
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Pending |
31 |
$529,950 |
$0 |
52 |
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Sold |
38 |
$532,000 |
$530,000 |
20 |
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Sold 2021 |
66 |
$515,000 |
$525,000 |
9 |
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January-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
45 |
$559,000 |
$0 |
69 |
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Pending |
37 |
$525,000 |
$0 |
26 |
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Sold |
27 |
$575,000 |
$533,000 |
44 |
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Sold 2022 |
62 |
$480,500 |
$473,000 |
6 |
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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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