Citrus Heights Housing Market Data from January 2022
Median Housing Market Data
Comparing January home sales this year to January last year. Antelope Home Prices are up 18%. Now let’s look at why and how this happening.
Looking at the median housing market data. In red below the active listings continues to drop some. January only has 34 homes currently on the market.
Comparing the list price to the sold price in blue below, look at the gap between the numbers. In January homes are selling about 25k above asking. This is usually being caused by multiple offers.
November had homes selling for about 5k above list price. December had homes sales about 12k over list price.
This does not mean all homes are selling for 25k over the list in January. This means the average is selling for 25k above the list. Some are selling for quite a bit over that while others are selling for below list price.
Looking at last year's home sales, homes sold for above list price as well. Around 5k above the list price is shown in green.
Of the homes pending in January, 61% had more than one offer. Of the homes that sold in January, 70% had more than one offer. Looking back at January 2021, 70% had more than one offer.
With this many multiple offers going it will drive housing prices higher. There is more demand than inventory.
Looking ahead in the housing market. Feds have talked about raising interest rates. This will defiantly affect the housing market.
Also, at some point, the foreclosures will be starting to increase. Remember they have been on hold because of Covid 19. Not sure how the different lenders will be handling this wave that will be coming.
For more housing information visit my blog at https://www.allcahomes.com/blog/
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January-22 |
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# Listings |
List Price |
Sale Price |
DOM |
|
Active |
34 |
$470,497 |
$0 |
15 |
|
Pending |
128 |
$474,950 |
$0 |
7 |
|
Sold |
79 |
$449,900 |
$475,000 |
7 |
|
Sold 2021 |
68 |
$397,000 |
$403,250 |
7 |
|
November-21 |
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|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
61 |
$475,000 |
$0 |
34 |
|
Pending |
122 |
$452,450 |
$0 |
8 |
|
Sold |
94 |
$439,450 |
$445,000 |
9 |
|
Sold 2020 |
112 |
$374,948 |
$381,500 |
7 |
|
December-21 |
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|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
37 |
$489,000 |
$0 |
43 |
|
Pending |
105 |
$464,900 |
$0 |
10 |
|
Sold |
88 |
$447,450 |
$459,000 |
7 |
|
Sold 2020 |
104 |
$398,250 |
$407,000 |
7 |
Using the average housing market data. In red in the month of January, the list price is smaller than the original price. This means more home 🏡 sellers had to drop their prices.
From looking at the numbers. We can determine that some home sellers are overpricing their homes. This could be a single house with a large price drop or multiple homes with drops.
Of the homes pending in January in green below the difference is much closer. Also, notice that the DOM (days on market) is much lower. These home sellers priced their homes correctly from the start.
Looking at the homes that sold in January. The difference is smaller as well. Again, the DOM is smaller meaning the homes sold quickly.
Going back to January last year the difference again is small. The DOM is close as well.
Over-pricing your home can cost you money in the end. This is very important! The longer the home stays on the market to more red flags go up. Especially in this hot 🔥 housing market.
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November-21 |
|||||
|
|
# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
|
Active |
61 |
$496,478 |
$494,549 |
$0 |
45 |
|
Pending |
122 |
$453,082 |
$450,829 |
$0 |
19 |
|
Sold |
94 |
$446,837 |
$441,644 |
$449,736 |
16 |
|
Sold 2020 |
112 |
$375,271 |
$373,067 |
$379,114 |
13 |
|
December-21 |
|||||
|
|
# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
|
Active |
37 |
$493,318 |
$487,437 |
$0 |
60 |
|
Pending |
105 |
$461,036 |
$458,235 |
$0 |
19 |
|
Sold |
88 |
$451,535 |
$448,074 |
$460,862 |
19 |
|
Sold 2020 |
104 |
$396,029 |
$393,918 |
$399,300 |
13 |
|
January-22 |
|||||
|
|
# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
|
Active |
34 |
$498,256 |
$493,627 |
$0 |
41 |
|
Pending |
128 |
$472,266 |
$472,001 |
$0 |
19 |
|
Sold |
79 |
$464,581 |
$461,911 |
$476,916 |
16 |
|
Sold 2021 |
68 |
$403,989 |
$402,435 |
$412,100 |
13 |
Comparing the last 6 months of home sales this year to the same time last year. The number of home sales is almost the same. DOM is also similar. Looking at the sales price in red, home prices have increased a great deal over that time frame. Citrus Heights home prices are up about 19%.
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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 |
|
Jan 21 |
617 |
$375,000 |
$383,000 |
6 |
|
Jan 22 |
624 |
$445,000 |
$456,500 |
8 |
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.
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.