Carmichael Housing Market Data for May 2022
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Median Housing Market Data
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Carmichael's housing prices are up 👆 13% when comparing it to last April’s home sales. With interest rates rising the housing market will slow down.
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When the real estate market begins to slow down. The first signs to look for as the housing market begins to slow are. 1 - DOM will increase, 2 - Multiple offers should decrease, and 3 - housing prices will start to level off.
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The reason I say multiple offers should decrease. The first-time homebuyers are being priced out with higher interest rates. The home buyers that we're looking at 600k homes are now looking at a 500k home. So the lower-priced homes may still receive more than one offer for now.
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As of now, there are no signs of the housing market slowing down. However, if you are thinking about selling you should do it right away.
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We are heading into the peak housing market season. It’s normal for the active listings (inventory) to increase. Highlighted in green below are the active listings. As of May, there are 53 active listings in Carmichael. Last month it was at 40.
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Looking that the multiple offers. Of the homes pending in April, 67% had more than one offer. In March the pending’s were at 76%. So a small drop. Not sure if this is associated with housing a market yet.
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Of the homes that sold in April, 80% had more than one offer. In March the sold had 84% with more than one offer. Last year the April homes that sold 71% had more than one offer.
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With a $500k loan for 30 years at 3%, the payment would be about $2,108.
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That same data but a 5% interest rate put the monthly payment at about $2,684.
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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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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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March-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
40 |
$672,000 |
$0 |
11 |
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Pending |
72 |
$549,950 |
$0 |
7 |
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Sold |
49 |
$556,900 |
$560,000 |
8 |
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Sold 2021 |
62 |
$497,000 |
$520,000 |
6 |
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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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Average Housing Market Data
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When looking at the average housing market data it’s good to compare the original price and the list price. This tells us what homeowners are having to do. Price drops are never good. Price increases may be good.
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Highlighted in blue below the list price is lower than the original price. This means that home sellers have had to drop their prices to get the home sold. The active listings have had some significant price drops.
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In green below are April sold. Notice that the list price is higher than the original price. Two things can cause this. The seller increased the price after listings. Or the agent increased the price because they received a really good offer. This is fishing for higher offers. It does work well but depends on the circumstances.
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April-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
53 |
$774,475 |
$759,147 |
$0 |
23 |
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Pending |
61 |
$656,492 |
$645,039 |
$0 |
12 |
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Sold |
65 |
$588,315 |
$589,878 |
$603,454 |
12 |
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Sold 2021 |
79 |
$569,211 |
$568,652 |
$589,243 |
17 |
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When looking at the last 6 months of housing market data this year and comparing it to the same time last year. Carmichael's housing prices are 11%.
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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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Mar-21 |
385 |
$459,000 |
$469,000 |
7 |
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Mar-22 |
371 |
$515,000 |
$525,000 |
8 |
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Apr-21 |
384 |
$460,000 |
$476,000 |
6 |
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Apr-22 |
367 |
$525,000 |
$530,000 |
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.