Rocklin Housing Market Data for February 2022
Median Housing Market Data
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Analyzing February median home 🏡 sales data. In red comparing list price to the sales price in January. Homes sold for about 💰 $20k above list price. Remember not all homes sold for this much over. Some sold below list price.
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In February homes sold for about $15k over list price. When comparing January sales price to February sales prices are down slightly.
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This is the time of year when active listings (inventory) increase. It went from 33 in January to 44 👆 in February (in green). This is normal and should continue to increase.
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In pink is the median active listings price for a home. Notice the increase from January to February. Some home sellers are overpricing their homes. Homebuyers should be careful.
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You don’t want to overpay for a home. It can take years to get the equity back.
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Of the homes that are currently pending 60% received multiple offers. Of the homes that sold in February, 68% had more than one offer.
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Looking back at February of last year 64% had more than one offer.
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While the housing market is on fire 🔥 right now. About 40% of the homes are selling for asking or below. This depends on the area of course. But You don’t have to overpay for a home!
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If you are purchasing a home soon. Remember interest rates are on the rise. Making your monthly payment higher.
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Don’t what to purchase a home thinking you will get a better deal if housing prices drop. Even if the home prices drop some you could have a larger monthly payment with a higher interest rate.
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An example would be. Say you have a 30-year loan for $500k with a 3% interest rate. Your monthly mortgage payment would be about $2108.
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Say you wait and the housing market drops some. Say to $450k but now the interest rates are at 4%. Your monthly mortgage payment would be about $2148.
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Forty dollars a month more at 30 years comes out to $14,400.
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Zillow has many homes on the market currently. Most are well overpriced.
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For those that don’t know Zillow overpaid for home purchases and lost millions of dollars. So much so that Zillow shut down that portion of their business.
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For more housing information visit my blog at https://www.allcahomes.com/blog/
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January-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
33 |
$683,000 |
$0 |
6 |
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Pending |
83 |
$658,000 |
$0 |
6 |
|
Sold |
68 |
$681,098 |
$702,500 |
7 |
|
Sold 2021 |
59 |
$568,880 |
$559,990 |
11 |
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|
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# Listings |
List Price |
Sale Price |
DOM |
|
Active |
44 |
$736,831 |
$0 |
10 |
|
Pending |
95 |
$669,900 |
$0 |
8 |
|
Sold |
62 |
$654,000 |
$669,000 |
6 |
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Sold 2021 |
76 |
$654,950 |
$586,500 |
5 |
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Average Housing Market Data
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Looking at the average housing market data. In blue are the active listings. Not many home sellers have dropped their selling price. The original price and list price are almost the same.
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In red are the selling prices for both this year and last year. There were not many price drops for the homes that sold either.
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Looking at February active listings to January. Notice the sharp increase in listing price in February. For a home buyer, this can be a warning sign. You don’t ever want to overpay for a home.
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January-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
33 |
$724,542 |
$723,132 |
$0 |
34 |
|
Pending |
83 |
$726,930 |
$725,253 |
$0 |
18 |
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Sold |
68 |
$707,737 |
$703,885 |
$717,643 |
16 |
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Sold 2021 |
59 |
$581,237 |
$574,965 |
$575,035 |
26 |
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February-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
44 |
$774,727 |
$774,737 |
$0 |
17 |
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Pending |
95 |
$749,388 |
$747,903 |
$0 |
20 |
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Sold |
62 |
$716,201 |
$714,619 |
$741,547 |
14 |
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Sold 2021 |
76 |
$585,237 |
$584,865 |
$598,099 |
16 |
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Comparing the last 6 months of home sales this year to the same time last year. The sales price is up about 18%.
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But when comparing last month's data to this month’s data. Home prices are only up .07%.
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Remember looking at this much data the numbers show change much slower.
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Rocklin |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sale Price |
DOM |
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Jan 21 |
700 |
$549,000 |
$555,600 |
8 |
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Jan 22 |
572 |
$649,900 |
$654,500 |
7 |
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Feb 21 |
645 |
$549,900 |
$555,000 |
5 |
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Feb 22 |
523 |
$650,000 |
$655,000 |
7 |
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I have a system put in 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.
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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.