Carmichael Housing Market Data for February 2022
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Median Housing Market Data
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The median housing 🏡 market data is showing some normal trends. In green, the active listings are increasing 👆. This is normal for this time of year. It should continue to increase.
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In red, the January home sales are less than the list price. The 3 best months to purchase 💰 a home are November, December, and January. Fewer homebuyers but less active listings (inventory) as well.
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February is usually when the housing market starts to pick up again. In blue are February sold properties. They sold for over-list again.
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Interesting numbers here in the multiple offers. Looking at the sold properties in January and February. Of the homes that closed in January, 63% had more than one offer. In February that went up to 82%.
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Last year January's homes sales had 69% with more than one offer. February had 85% with more than one offer.
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Carmichael’s home prices have increased 5%. This is comparing February this year to February last year.
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Over the last 4- or 5-months home prices have been flat in Carmichael. That is interesting with all the multiple offers going on.
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While the housing market is on fire 🔥 right now. About 40% of the homes are selling for asking or below. This depends on the area of course. But You don’t have to overpay for a home!
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If you are purchasing a home soon. Remember interest rates are on the rise. Making your monthly payment higher.
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Don’t what to purchase a home thinking you will get a better deal if housing prices drop. Even if the home prices drop some you could have a larger monthly payment with a higher interest rate.
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An example would be. Say you have a 30-year loan for $500k with a 3% interest rate. Your monthly mortgage payment would be about $2108.
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Say you wait and the housing market drops some. Say to $450k but now the interest rates are at 4%. Your monthly mortgage payment would be about $2148.
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Forty dollars a month more at 30 years comes out to $14,400.
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Zillow has many homes on the market currently. Most are well overpriced.
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For those that don’t know Zillow overpaid for home purchases and lost millions of dollars. So much so that Zillow shut down that portion of their business.
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For more housing information visit my blog at https://www.allcahomes.com/blog/
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January-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
33 |
$695,000 |
$0 |
29 |
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Pending |
50 |
$531,450 |
$0 |
8 |
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Sold |
62 |
$480,500 |
$473,000 |
6 |
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Sold 2021 |
45 |
$445,000 |
$446,000 |
31 |
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February-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
44 |
$624,000 |
$0 |
9 |
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Pending |
41 |
$595,000 |
$0 |
12 |
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Sold |
49 |
$495,000 |
$510,000 |
7 |
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Sold 2021 |
47 |
$479,900 |
$487,000 |
6 |
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Average Housing Market Data
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In January, the active listings prices had many high-priced homes on the market. The average price is very high. This is in red.
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The smaller, less expensive homes sold quicker than the more expensive homes. February had very few price drops.
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Carmichael home prices are up 4% using the average housing market data. This is comparing February this year to February last year.
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January-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
33 |
$1,029,406 |
$1,024,800 |
$0 |
63 |
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Pending |
50 |
$602,715 |
$605,654 |
$0 |
23 |
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Sold |
62 |
$533,554 |
$528,402 |
$539,993 |
19 |
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Sold 2021 |
45 |
$485,087 |
$482,066 |
$485,092 |
17 |
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February-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
44 |
$868,611 |
$843,883 |
$0 |
37 |
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Pending |
41 |
$727,962 |
$723,340 |
$0 |
30 |
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Sold |
49 |
$539,464 |
$538,257 |
$558,186 |
16 |
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Sold 2021 |
47 |
$515,462 |
$516,155 |
$536,662 |
17 |
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Comparing the last 6 months of home sales this year to the same time the previous year. Carmichael home prices are up 13%. These numbers will move much slower.
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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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Jan-21 |
417 |
$450,000 |
$459,000 |
7 |
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Jan-22 |
440 |
$515,000 |
$526,000 |
8 |
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Feb-21 |
393 |
$450,000 |
$464,000 |
7 |
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Feb-22 |
409 |
$515,000 |
$525,000 |
8 |
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I have a system put in place to get you the best price possible on a home without over-biding. I want to put you in the best possible position to get a home at the best price. 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.