Fair Oaks Housing Market Data for November 2022
.
Median Housing Market Data
.
Fair Oaks housing prices are down 7% from November of last year. These numbers are in red below. From September to November, Fair Oaks housing prices are down 13%. The housing market is dropping around the Sacramento area.
.
Looking at other important numbers. The active listings (inventory) are down. This is normal this time of year. Inventory should start to increase in February in most cases. The DOM is going up. This is also normal at this time of year. This is highlighted in blue below.
.
The number of home sales has dropped considerably, and last year, in November, 47 homes sold. This year 17.
.
Multiple offers have jumped around in Fair Oaks. Of the homes currently pending (under contract), 38%. Last month 18% of the pending had more than one offer.
.
Of the homes that sold in November, 24% had more than one offer. Last month 48%. Last year 64% had more than one offer. This is one factor that drives housing prices up. However, because active inventory is high, the multiple offers do not impact housing prices. The home buyers have other options if their request is not accepted.
.
In a declining housing market, it's very important to price your home at or below your competition. Remember, prices drop monthly if your home is listed and on the market. If the house has been on the market for more than 30 days, the price has now dropped another $10,000 roughly. You will want to get ahead of this declining housing market to put more money in your pocket.
.
With a declining housing market, it's important to do the little things to help sell your home. Price your house at or below your competition. And do the little things on the list below.
.
For more housing information, visit my blog at https://www.allcahomes.com/blog/.
.
|
September-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
73 |
$685,000 |
$0 |
31 |
|
Pending |
31 |
$600,000 |
$0 |
31 |
|
Sold |
39 |
$599,000 |
$593,500 |
9 |
|
Sold 2021 |
69 |
$539,000 |
$545,000 |
8 |
|
October-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
77 |
$650,000 |
$0 |
33 |
|
Pending |
17 |
$647,000 |
$0 |
21 |
|
Sold |
27 |
$638,000 |
$630,000 |
20 |
|
Sold 2021 |
58 |
$619,500 |
$622,500 |
13 |
|
November-22 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
64 |
$674,500 |
$0 |
44 |
|
Pending |
29 |
$625,000 |
$0 |
44 |
|
Sold |
17 |
$519,000 |
$519,000 |
29 |
|
Sold 2021 |
47 |
$545,800 |
$557,500 |
7 |