Fair Oaks Housing Market Data for May 2022
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Median Housing Market Data
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First the good news for homeowners. The Fair Oaks housing prices are up 👆 6% from April Sales of last year.
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With rising interest rates, the housing market will be slowing down. People will not be able to afford larger homes. This means the smaller less expensive homes will be selling.
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If you have a larger more expensive home, get it on the market ASAP 🙁 if you are thinking of selling. The feds are expected to continue to increase the interest rates every month.
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If you are a homebuyer lets put together a plan to get you into a new home even if it’s down the road. The plan starts now!
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Looking at the numbers from April home sales. The active listings (inventory) are going up which is normal this time of year. That's highlighted in green below.
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Highlighted in blue in March and yellow in April are the active and sold prices of homes. Notice the difference between the active and sold prices. Active is much higher than the sold. Homebuyers will be looking at less expensive homes.
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The DOM will start to increase as well. I expect this to increase next month. Highlighted in red below are the DOM. It has already increased some but expects it to go higher. The active listings will be the first to show higher DOM with the higher interest rates.
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I also expect the multiple offers to decrease some. The smaller, less expensive homes may see more but the higher-priced homes will see less.
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Of the homes that are currently pending, 72% have more than one offer. In March that number was 71%.
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Of the homes that sold in April, 75% had more than one offer. In March the homes that sold, 66% had more than one offer. Last year in April the homes that sold 84% had more than one offer.
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If you are thinking about selling, right now is the time. If you want top dollar! Yes, listing your home SUCKS! Here is a helpful list of do’s and don’t when selling a home.
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If you are thinking about moving to a bigger or smaller home but you are worried about having to move twice. I have a system put in place, so you only have to move once.
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For more housing information visit my blog at https://www.allcahomes.com/blog/
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March-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
36 |
$694,450 |
$0 |
14 |
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Pending |
48 |
$592,222 |
$0 |
6 |
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Sold |
59 |
$565,000 |
$590,000 |
6 |
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Sold 2021 |
50 |
$549,950 |
$583,500 |
6 |
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April-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
57 |
$675,000 |
$0 |
17 |
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Pending |
53 |
$589,900 |
$0 |
6 |
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Sold |
52 |
$587,500 |
$615,000 |
6 |
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Sold 2021 |
57 |
$549,900 |
$580,000 |
7 |
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Average Housing Market Data
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I like to compare the original price to the list price. The original price is when the homes first come on the market. The list price is the current price when it goes pending or sold.
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In March highlighted in green below look at the difference between the original price and the list price. Several homeowners have had to drop their prices to get their homes sold. This can cost you money later. So be careful here.
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Highlighted in blue in April look at the difference between the original price and the list price. This is a large difference.
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When listing your home there are several things that are important for you to know ahead of time. Things that can affect the price you decide on when listing.
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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 |
36 |
$778,826 |
$761,482 |
$0 |
23 |
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Pending |
48 |
$642,735 |
$637,288 |
$0 |
12 |
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Sold |
59 |
$639,429 |
$635,290 |
$662,656 |
16 |
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Sold 2021 |
50 |
$579,983 |
$576,651 |
$592,069 |
19 |
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April-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
57 |
$909,718 |
$745,771 |
$0 |
26 |
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Pending |
53 |
$667,937 |
$661,335 |
$0 |
13 |
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Sold |
52 |
$621,924 |
$616,911 |
$651,814 |
11 |
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Sold 2021 |
57 |
$581,845 |
$577,067 |
$604,615 |
13 |
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The housing data below is comparing the last 6 months of homes sales this year to the same time last year. Fair Oaks housing prices are up 7% when comparing this housing data.
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With this housing data covering so much time the current housing market conditions will not show up as quickly.
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Fair Oaks |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sales Price |
DOM |
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Mar-21 |
353 |
$500,000 |
$520,000 |
7 |
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Mar-22 |
309 |
$575,000 |
$580,000 |
8 |
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Apr-21 |
328 |
$529,950 |
$540,000 |
8 |
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Apr-22 |
299 |
$565,000 |
$580,000 |
7 |
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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 put in place 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.