Sacramento County Housing Market Summary December 2022
Discover what's trending with this Sacramento County Housing Market for December 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 December 2022
December 2022 is a Seller's market! The number of for-sale listings was up 60.2% from one year earlier and down 17.5% from the previous month. The number of sold listings decreased 44.1% year over year and decreased d 3.5% month over month. The number of under-contract listings was down 17.4% compared to the previous month and down 36.7% compared to the previous year. The Months of Inventory based on Closed Sales is 2.2, up 180.1% from the previous year.
Homes For Sale in December 2022
The total number of properties available this month is higher by 1846 units of 60.2%. This year's bigger inventory means that buyers who waited to buy may have a bigger selection to choose from. The number of current inventory is down 17.5% compared to the previous month.
A comparatively lower Month of Inventory is more beneficial for sellers while a higher month 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
Homes Closed in Dec 2022
The December 2022 Months of Inventory based on Closed Sales of 2.2 was
increased by 180.1% compared to last year and down by 15.3% compared to last month. December 2022 is a Seller's market.
Homes Placed under Contract in Dec 2022
The December 2022 Months of Inventory based on Pended Sales of 2.7 was increased by 148.4% compared to last year and the same compared to last month. December 2022 is Seller's market.
The Days on Market Shows Upward Trend for December 2022
The Average For Sale Price is Neutral
The Average For Sale Price in December was s $715,000, down 2.1% from $730,000 in December of 2021 and down up 0.6% from $711,000 last month.
The Average Sold Price is Depreciating
The Average Sold Price in December was $547,000, down 3.9% from $569,000 in December of 2021 and down 2.8% from $563,000 last month.
The Median Sold Price is Depreciating
The Median Sold Price in December was $490,000, down 4.1% from $511,000 in
December of 2021 and down 3.2% from $506,000 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!