Fair Oaks Housing Market Data for July 2022
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Median Housing Market Data
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Fair Oaks housing prices are down 👇 2%. This is comparing July home sales this year to July last year. Comparing home sales in May 2022 to July 2022, prices are down 👇 1%. The housing market has changed 💦🔥💦🏡.
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Other signs that the housing market has changed. The DOM has increased each month. This is highlighted in blue below. In Fair Oaks, it’s now taking a month to get your home under contract. I believe this number will increase more.
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Multiple offers are another area that will signal a housing market change. It will first show in the homes that are pending. In May, 58% of the pending homes had more than one offer. That dropped to 45% in June and July to👇👇👇 35%. Again, signaling a housing market change.
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Of the homes that sold with more than one offer. May 77%, June 63%, and July 👇👇👇 49% had more than one offer. Last year July home sales had 63% with more than one offer.
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There have been far fewer home sales this year than last year. July this year had 39 home sales and last year 64. This is highlighted in green below.
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The housing market has changed, and it’s important to stay ahead. If you are buying a home, DON’T OVERBID. If you are selling, DON’T GET TOO AGGRESSIVE.
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**If you are buying a home, don’t overbid. I expect homes will sell for less than the list price soon. I have seen home buyers overpay for a home by 40k or more. Be careful!
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Major factors that go into buying a home that needs to be considered. Are the expensive things such as the HAVC, roof, fencing, condition, and water heater? Home sellers no longer have the upper hand when it comes to negotiations.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/.
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May-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active 52 |
50 |
$768,750 |
$0 |
16 |
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Pending 55 |
45 |
$675,000 |
$0 |
11 |
|
Sold 50 |
43 |
$595,000 |
$615,000 |
6 |
|
Sold 2021 74 |
67 |
$599,900 |
$602,000 |
6 |
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June-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
91 |
$739,000 |
$0 |
18 |
|
Pending |
40 |
$612,500 |
$0 |
9 |
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Sold |
48 |
$644,950 |
$645,000 |
7 |
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Sold 2021 |
66 |
$599,500 |
$620,000 |
8 |
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July-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
74 |
$704,000 |
$0 |
31 |
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Pending |
48 |
$744,000 |
$0 |
25 |
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Sold |
39 |
$625,000 |
$610,000 |
10 |
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Sold 2021 |
64 |
$590,000 |
$619,500 |
6 |
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I want to put you in the best possible position to get a home at the best price. I have a method to get you the best price possible on a home without over-biding. 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.