Citrus Heights Housing Market Data for November 2022
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Median Housing Market Data 🏡
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Citrus Heights housing prices are up 1%. This is comparing November home sales this year to November last year. From September to November, home prices are up 3%. Most of the Sacramento area prices are dropping.
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I was looking at the list price and sales price highlighted in blue below. The sales price is less than the list price. The gap between these is getting larger. This indicates that home prices are dropping.
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Multiple offers are one factor in increasing housing prices. In November, 39% of the homes sold had more than one offer. Last year in November, 54% had more than one offer. Another factor distorting the multiple offers is the number of homes on the market. Homebuyers know they have other homes to put an offer on today. Last year not so much.
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Many homebuyers are not looking to purchase anymore. They are comparing the number of homes sold in November this year to last year. The total number of sales is much less this year. Interest rates have increased, which makes their home payments go up.
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In a declining housing market, it's very important to price your home at or below your competition. Remember, the price drops monthly if your home is listed and on the market. If the house has been on the market for more than 30 days, the price has now dropped another $10,000 roughly. You will want to get ahead of this declining housing market to put more money in your pocket.
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With a declining housing market, it's important to do the little things to help sell your home. Price your house at or below your competition. And do the little things on the list below.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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September-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
113 |
$503,000 |
$0 |
34 |
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Pending |
74 |
$477,500 |
$0 |
22 |
|
Sold |
65 |
$462,000 |
$460,000 |
11 |
|
Sold 2021 |
94 |
$464,950 |
$477,500 |
8 |
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October-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
106 |
$499,000 |
$0 |
35 |
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Pending |
63 |
$459,000 |
$0 |
25 |
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Sold |
55 |
$475,000 |
$468,900 |
22 |
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Sold 2021 |
110 |
$459,950 |
$474,000 |
8 |
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November-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
99 |
$484,900 |
$0 |
29 |
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Pending |
56 |
$445,000 |
$0 |
26 |
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Sold |
56 |
$488,495 |
$472,000 |
29 |
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Sold 2021 |
81 |
$460,000 |
$467,000 |
7 |