Discover what's trending with this Sacramento County Housing Market for August 2022. This report is provided to you by Team Lund Real Estate. We're happy to be your go-to source for how many listings are hitting the market, how long houses are staying on the market before selling, and what the median home values were in Sacramento last month!
Sacramento County Housing Market Trends August 2022
August 2022 is a Seller's market! The number of for sale listings was up 72.8% from one year earlier and down 3.6% from the previous month. The number of sold listings decreased 27.3% year over year and increased 7.7% month over month. The number of under contract listings was up 20.9% compared to previous month and down 18.2% compared to previous year. The Months of Inventory based on Closed Sales is 2.3, up 133.6% from the previous year.
Homes For Sale in July 2022
Versus last year, the total number of properties available this month is higher by 3244 units of 72.8%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory is down 3.6% compared to the previous month.
It is a Seller's Market
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales The August 2022 Months of Inventory based on Closed Sales of 2.3 was increased by 133.6% compared to last year and down 11.6% compared to last month. August 2022 is Seller's market.
Months of Inventory based on Pended Sales The August 2022 Months of Inventory based on Pended Sales of 2 was increased by 116.3% compared to last year and down 20% compared to last month. August 2022 is Seller's market. .
The Days on Market Shows Upward Trend
The Average For Sale Price is Depreciating*
The Average For Sale Price in August was $735,000, up 0.4% from $732,000 in August of 2021 and down 0.9% from $742,000 last month.
The Average Sold Price is Depreciating
The Average Sold Price in August was $612,000, up 3.7% from $590,000 in August of 2021 and down 1.3% from $620,000 last month.
The Median Sold Price is Depreciating
The Median Sold Price in August was $535,000, up 2.9% from $520,000 in August of 2021 and down 2.7% from $550,000 last month.
What does all of this mean for you?
At Team Lund, we understand that buying or selling your home can be one of the biggest decisions you make. We want to provide you with the best, most relevant information to assist you in your journey.
Reach out to us with any questions and we will guide you through every step and help you sell or buy a home that meets your needs while being competitive in today’s market. If you want trends for Placer County or El Dorado County or your specific zipcode or city, we'd be happy to send them to you. Just let us know!
Comments