Citrus Heights Housing Market Data for March 2022

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Median Housing Market Data

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March is about the time every year when the housing market starts to pick up again. The holidays are almost always slower and as we head towards March it picks up.

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In red and blue below shows this to be true. The active listings have increased each month. While going up only 1 from February to March is not a good number.

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In blue, the number is home sales have increased each month. Driving the prices up is the low inventory or active listings. Like anything when there is little supply and large demand prices increase.

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With more home buyers inventory prices will increase at a much more rapid rate.

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The homes sale price highlighted in yellow has increased each month. Citrus Heights home prices have increased 9% from January to March.

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Of the homes currently pending, 67% had more than one offer. Last month 69% had more than one offer.

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Of the homes that sold in March, 78% had more than one offer. Last year in March, 73% had more than one offer. The multiple offers are what is driving the housing prices higher.

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Citrus Heights home prices are up 22% from March of last year.

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With interest rates rising. The housing market will start to slow down.

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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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January-22

 

# 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

February-22

 

# Listings

List Price

Sale Price

DOM

Active

48

$499,450

$0

7

Pending

126

$493,100

$0

6

Sold

90

$459,900

$480,000

6

Sold 2021

61

$399,000

$407,500

7

March-22

 

# Listings

List Price

Sale Price

DOM

Active

49

$489,000

$0

4

Pending

129

$499,900

$0

7

Sold

116

$495,000

$519,500

5

Sold 2021

94

$399,975

$425,000

6

 

 

Average Housing Market Data

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Using the average housing market data for Citrus Heights. Comparing the original list price to the list price. Some home sellers have had to drop the price of their homes to get them sold. The list price is lower than the original price.

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Looking at the sold numbers in March, highlighted in blue. It looks as though more home sellers had to drop their prices or there could have been one or two large price drops.

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Housing prices are up 23% from last year using the average housing market data.

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In this kind of housing market condition, a home buyer must be very careful. Your offer must be smart or it could take you years to get the equity back.

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Have an agent that can tell you honestly what the home is worth including the repairs if any. So, you know where you stand before making an offer.

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Don’t get caught up in the bidding war.

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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

 

# Listings

Orig Price

List Price

Sale Price

DOM

Active

49

$486,880

$485,594

$0

13

Pending

129

$496,721

$495,540

$0

21

Sold

116

$500,342

$497,397

$517,204

10

Sold 2021

94

$406,022

$406,373

$420,279

12

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The housing market data below is comparing the last 6 months of home sales this year to the same time last year.

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Highlighted in yellow are this year’s sales prices by month. In blue are last year's sales prices by month. They have increased every month.

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Citrus Heights home prices are up 18% comparing this year to the same time last year.

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Citrus Heights

Home Sales last 6 months

 

# 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

 Feb 21

562

$380,000

$390,000

7

 Feb 22

601

$449,900

$465,000

8

 Mar 21

542

$389,900

$400,000

7

 Mar 22

610

$455,000

$470,000

7