The housing is unbelievable right now. Will the housing market slow down as we approach the children going back to school? In a normal housing market, it will slow down once the children begin to return to school. This is because parents want the children in the area before school starts. In May the housing prices have increased 35% in May this year compared to May of last year. You can see below that May of 2020 the sales price was below listing price. This indicates that there were not multiple offers going on. A more level housing market. In May of 2021 you can see that the sales price is way above the list price indicating multiple offers which again is driving housing prices up. How long can this continue, who knows.
Average Housing Market Data
|
May-21 |
|||||
|
|
# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
|
Active |
76 |
$647,289 |
$646,492 |
$0 |
16 |
|
Pending |
242 |
$593,471 |
$594,505 |
$0 |
9 |
|
Sold |
228 |
$634,811 |
$637,190 |
$668,230 |
8 |
|
Sold 2020 |
169 |
$502,847 |
$498,481 |
$495,021 |
22 |
I feel that the median numbers are the most accurate at this time and in these circumstances. Housing prices are up 38% using this data and comparing May of 2020 to May of 2021. You can see that in May of the 2020 the selling price is about the same as the list price. This again indicates that multiple offers were not happening. In May of 2021 you can see that the sales price is way above the list price again indicating multiple offers driving prices up. Pricing your home in this market is especially important to get top dollar. Over pricing may mean you get less than you could have.
Median Housing Market Data
|
May 21 |
||||
|
|
# Listings |
List Price |
Sale Price |
DOM |
|
Active |
76 |
$644,450 |
0 |
6 |
|
Pending |
242 |
$575,000 |
0 |
6 |
|
Sold |
228 |
$599,900 |
$646,000 |
5 |
|
Sold 2020 |
169 |
$469,000 |
$468,000 |
13 |
Below you can see that in May of 2020 homes sold for about what was being ask in the list price. However, in May of 2021 the selling price is about $25,000 over asking. Multiple offers again causing this. Over the last 6 months coming the same time from this year to last year housing prices are up 20%.
|
Roseville |
||||
|
Home Sales last 6 months |
||||
|
|
# of Sales |
Median List Price |
Median Sales Price |
DOM |
|
May 20 |
970 |
$481,127 |
$480,000 |
12 |
|
May 21 |
1165 |
$550,000 |
$575,000 |
5 |