Carmichael Housing Market Data for July 2022
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Median Housing Market Data
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Carmichael housing prices are up 👆 4%. This is comparing June home sales this year to June last year. In the last 3 months, the home prices have jumped around some. Comparing April home sales this year to June home prices a down in Carmichael. This housing market is cooling off 💦🔥.
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Now, look at what is happening in the housing market. Remember we are in the prime housing market season. Any changes in the housing market will appear first in the active listings and pending within the current month.
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Some of the key housing market data are active listings (inventory), DOM (days on market), and multiple offers. First, let's look at active inventory. This is highlighted in green below. It has continued to increase which is normal this time of year. But can also be happening with fewer homes selling.
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Now, look at the DOM. This is highlighted in blue below. The DOM has increased. This can be normal as well with more active listings. And fewer homebuyers. The DOM started to increase when interest rates began to climb. With the increased interest rates many homebuyers can’t afford the monthly payments now. The homebuyers are either not looking anymore or looking at lower-priced homes.
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The multiple offers give us more information. In April the pending homes had 67% with more than one offer. In May that number decreased to 61%. In June they decreased more down to 54%.
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The housing market has changed and it’s important to stay ahead. If you are selling DON’T GET TOO AGGRESSIVE. If you are buying a home DON’T OVERBID.
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Want to get top dollar for your home if you are selling. Check out my home selling checklist with valuable tips and information. Home Selling Checklist
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If you are thinking about moving to a bigger or smaller home but you are worried about having to move twice. I have a method put in place, so you only have to move once. Downsizing my Home - Need a Bigger Home
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If you are thinking about selling, right now is the time. If you want top dollar! Here is a helpful list of do’s and don’t when selling a home.
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If you are thinking about selling, right now is the time. If you want top dollar! Yes, listing your home SUCKS! Here is a helpful list of do’s and don’t when selling a home.
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If you are thinking about moving to a bigger or smaller home but you are worried about having to move twice. I have a method put in place, so you only have to move once.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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April-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
53 |
$599,000 |
$0 |
9 |
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Pending |
61 |
$595,000 |
$0 |
7 |
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Sold |
65 |
$549,900 |
$576,000 |
6 |
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Sold 2021 |
79 |
$499,000 |
$510,000 |
6 |
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May-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
70 |
$633,000 |
$0 |
14 |
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Pending |
71 |
$575,000 |
$0 |
8 |
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Sold |
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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Average Housing Market Data
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Carmichael housing prices are up 6% using the average housing market data. Again, this is comparing June home sales this year to June last year.
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Let’s look at the housing market data that shows some home sellers are not pricing their homes correctly. And how it’s currently hurting them. Looking at the housing market data below.
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The most attention your home will receive is in the first 14 days (See Chart B). If you overprice your home the homebuyers will not look or even see your home (Chart A). You are also letting homebuyers know that they can haggle you more. Why? Because they now not that many homebuyers are looking at your home.
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Of the homes that have sold over the last few months (highlighted in green below). Notice the difference between the original price and the list price. The original price is when the home first comes on the market. The list price is the price when it went under contract. In May it appears that some home sellers dropped their prices more than in June.
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Now, look at the active listings. Notice the difference in the original price and list price. A much larger gap between them. Also, notice the selling price compared to the active price. The selling price is much lower.
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Also, look at the DOM of the homes that sold compared to the active listings. Big difference.
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Here are a couple of charts that show the importance of correct pricing.
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Chart A
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Chart B
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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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This housing market data is comparing the last 6 months of home sales this year to the same time last year. Changes in the housing market don’t show up in the housing data.
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Housing prices are up 7% in Carmichael.
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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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May-21 |
369 |
$495,000 |
$510,500 |
6 |
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May-22 |
313 |
$542,000 |
$561,000 |
7 |
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Jun-21 |
408 |
$489,900 |
$512,500 |
6 |
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Jun-22 |
360 |
$536,500 |
$548,500 |
7 |