Citrus Heights Housing Market Data for April 2023
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Median Housing Market Data 🏡
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Citrus Heights housing prices are down 3% from this time last year. Over the last 6 months, housing prices are down 5%. We are in the peak housing market season. Let’s look at the housing market numbers to get a better idea.
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The active listings (inventory) and the DOM are the heartbeats of the housing market. This time of year, the inventory usually goes up. Over the last 3 months, the inventory has gone down. This is highlighted in blue below. The DOM usually goes down during this time. This has happened. This is highlighted in green below.
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Low inventory can mean higher multiple offers. Which can drive the housing market prices up. Of the homes currently pending in Citrus Heights, 79% have more than one offer. Of the homes that sold in April, 70% had more than one offer. Of the homes pending last month, 64% had more than one offer. These numbers would indicate that the housing prices in Citrus Heights are rising.
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Looking at the homes that sold in April. The selling price is higher than the list price. This indicates that homes are selling above asking. This does not mean all homes are selling for over list price. Last year in April, homes sold for about 20k over the list price. This year it’s about 5k.
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The one key number that worries me is the total number of home sales. About half of the total number of home sales in April this year. This is in bright pink below. Over the last 6 months, 318 homes have sold in Citrus Heights. Last year during the same time, 590 homes sold. This is likely happening because of the higher interest rates. Any homeowner that was thinking of selling may wait now. They don’t want a higher monthly payment because of the higher interest rates.
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The Citrus Heights housing market may be starting to heat up again. Meaning housing prices may begin to increase again. However, if homebuyers stop looking because of higher monthly mortgage payments. The housing market will shift into a decline. If you are thinking of selling, now is the time.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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February-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
40 |
$544,000 |
$0 |
37 |
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Pending |
68 |
$461,995 |
$0 |
23 |
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Sold |
61 |
$439,900 |
$440,000 |
21 |
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Sold 2022 |
90 |
$459,900 |
$480,000 |
6 |
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March-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
29 |
$549,000 |
$0 |
29 |
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Pending |
53 |
$489,000 |
$0 |
11 |
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Sold |
67 |
$450,000 |
$449,990 |
15 |
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Sold 2022 |
116 |
$495,000 |
$519,500 |
5 |
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April-23 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
33 |
$550,000 |
$0 |
11 |
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Pending |
56 |
$490,000 |
$0 |
7 |
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Sold |
46 |
$482,500 |
$487,500 |
6 |
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Sold 2022 |
103 |
$479,900 |
$500,000 |
6 |
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Your home is an investment in your quality of life. My team takes that seriously. That's why, when we first meet, we focus on your vision for your family. I have a method 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 to find out how my method 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 produce fruit in the future. Planning is the best way to make this happen.