Carmichael Housing Market Data for April
Average Housing Market Data
Looking at the housing market data for Carmichael. The inventory or active listings has increased the last 3 months. In May the inventory (active listings) was 56, June was 64 and in July it was 78. This will have an effect on multiple offers which is what has been driving the housing prices up. It will also have an effect on DOM (days on market). Housing prices should start to level off or drop and DOM will start to go up. It appears that home prices have already been dropping some shown in red. In a normal housing market this time of year it is normal for housing prices to drop while starting to stay on the market longer. This is due to the children going back to school and the holidays coming up. Carmichael housing prices are up 16% comparing July of this year to July of last year. 62% of the homes the closed (sold) in July had multiple offers. The homes currently pending have 61% with multiple offers. The homes that sold in July last year only had 48% receiving multiple offers. The interesting thing here in green is the prices for homes are starting out lower or maybe just more smaller homes are being listed. We will keep and eye on this data.
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May-21 |
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# Sold |
Orig Price |
List Price |
Sale Price |
DOM |
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Sold 2020 |
37 |
$470,246 |
$466,202 |
$461,487 |
23 |
|
Sold 2021 |
82 |
$616,929 |
$611,301 |
$626,388 |
16 |
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June-21 |
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# Sold |
Orig Price |
List Price |
Sale Price |
DOM |
|
Sold 2020 |
71 |
$513,518 |
$505,861 |
$501,400 |
29 |
|
Sold 2021 |
90 |
$592,607 |
$590,062 |
$611,071 |
14 |
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July-21 |
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# Sold |
Orig Price |
List Price |
Sale Price |
DOM |
|
Sold 2020 |
86 |
$540,394 |
$530,462 |
$528,185 |
33 |
|
Sold 2021 |
81 |
$548,981 |
$547,093 |
$563,085 |
15 |
Median Housing Market Data
I believe that the median housing market data is more true numbers than the average. I feel the home value gets distorted some by higher priced homes being sold. This could also be the reason for the housing prices dropping using the average data. The median housing data has the home values going up in red. The median housing market data has Carmichael homes prices going up 16% comparing July this year to July last year.
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May-21 |
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Active Listings |
List Price |
Sale Price |
DOM |
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Sold 2020 |
37 |
$459,950 |
$455,000 |
10 |
|
Sold 2021 |
82 |
$499,000 |
$527,500 |
5 |
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June-21 |
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Active Listings |
List Price |
Sale Price |
DOM |
|
Sold 2020 |
71 |
$450,000 |
$442,300 |
12 |
|
Sold 2021 |
90 |
$506,200 |
$537,000 |
7 |
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July-21 |
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Active Listings |
List Price |
Sale Price |
DOM |
|
Sold 2020 |
86 |
$474,900 |
$474,450 |
14 |
|
Sold 2021 |
81 |
$515,000 |
$550,000 |
8 |
When comparing the last 6 months of home sales this to the same time last year home prices are up 18% in Carmichael. In comparing list price to sales price last year, it shows homes selling for slightly more than list price. Looking at this year the sales price is much higher than list price which indicates multiple offers are still happening and driving prices up. This is also where a good agent may save you money by knowing these statistics otherwise the agent may tell you to come in at your highest and best. When selling this also helps you gain money by implementing different strategies.
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Carmichael |
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Home Sales last 6 months |
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Number of Sales |
Median List Price |
Median Sales Price |
DOM |
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July 20 |
181 |
430000 |
435000 |
7 |
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July 21 |
306 |
485000 |
515000 |
6 |
I have a system put on 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.
Please feel free to give me a call, text, or email so we can put a plan together to save you as much money as possible in these circumstances. It is possible that waiting may make for sense for you then purchasing now. Planning is the best way to save some money.