Citrus Heights Housing Market Data for April 2022
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Median Housing Market Data
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First Citrus Heights housing prices are up 👆 14% from April of last year.
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For the good news. Active listings (inventory) are increasing. This is normal this time of year. It went from 49 in March to 92 in April.
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Now for a little bad news. With interest rates on the rise, the housing market will be slowing down. The month-to-month data will be where it will show up first.
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A couple of signs that the housing market is slowing down. DOM will start to increase, and housing prices will start to drop.
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Not a big increase but 9 DOM is up from the 4 in March. I expect this number to increase next month.
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Rising interest rates mean higher payments for home buyers. So now the home buyers that could afford a 600k home can now only afford a 500k home. In red below notice the price drop in sales.
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This is a sign that people are buying lesser expensive homes. Simply because that’s what they can afford with higher interest.
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Of the homes pending in April, 66% had more than one offer. In March the pending was at 67%. Not a big drop but I believe this will continue to drop over the next few months. Pending will be the first to change because those are the most current home effect by interest rates.
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Of the homes that sold in April, 84% had more than one offer. In March, 78% had more than one offer. April of last year 82% had more than one offer.
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If you are thinking of selling or buying soon, you should act right away. As the feds just increased the interest rates another .50% base points today. They are saying they will be raising the rates every month.
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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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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 |
48 |
$499,450 |
$0 |
7 |
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Pending |
126 |
$493,100 |
$0 |
6 |
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Sold |
90 |
$459,900 |
$480,000 |
6 |
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Sold 2021 |
61 |
$399,000 |
$407,500 |
7 |
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March-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
49 |
$489,000 |
$0 |
4 |
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Pending |
129 |
$499,900 |
$0 |
7 |
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Sold |
116 |
$495,000 |
$519,500 |
5 |
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Sold 2021 |
94 |
$399,975 |
$425,000 |
6 |
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April-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
92 |
$519,450 |
$0 |
9 |
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Pending |
128 |
$488,495 |
$0 |
8 |
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Sold |
103 |
$479,900 |
$500,000 |
6 |
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Sold 2021 |
109 |
$419,000 |
$439,000 |
5 |
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There have not been many price drops on house listings in Citrus Heights. Look at the difference between the original price and the list price. The numbers are close.
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The smaller or lower-priced homes will continue to see quick selling times. Along with multiple offers for now. This will be slowing as well with the rising interest rates, however.
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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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March-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
49 |
$486,880 |
$485,594 |
$0 |
13 |
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Pending |
129 |
$496,721 |
$495,540 |
$0 |
21 |
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Sold |
116 |
$500,342 |
$497,397 |
$517,204 |
10 |
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Sold 2021 |
94 |
$406,022 |
$406,373 |
$420,279 |
12 |
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April-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
92 |
$543,333 |
$542,584 |
$0 |
18 |
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Pending |
128 |
$476,086 |
$475,217 |
$0 |
21 |
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Sold |
103 |
$485,961 |
$485,864 |
$506,858 |
10 |
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Sold 2021 |
109 |
$438,060 |
$431,359 |
$451,190 |
9 |
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Comparing the last 6 months of home sales this year to the same time last year. Remember these numbers will not change as fast as month to month.
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Citrus Heights home prices are up 16% when comparing these numbers.
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Citrus Heights |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sale Price |
DOM |
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Mar 21 |
542 |
$389,900 |
$400,000 |
7 |
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Mar 22 |
610 |
$455,000 |
$470,000 |
7 |
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Apr-21 |
548 |
$399,000 |
$415,000 |
6 |
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Apr-22 |
590 |
$464,900 |
$479,950 |
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 the vision you have for your family. 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.