Sacramento County Housing Market Summary July 2022
Updated: Sep 3, 2022
Discover what's trending with this Sacramento County Housing Market for July 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 July 2022
July 2022 is a Seller's market! The number of for sale listings was up 81.2% from one year earlier and up 14% from the previous month. The number of sold listings decreased 33.9% year over year and decreased 20.3% month over month. The number of under contract listings was up 2.6% compared to previous month and down 24.6% compared to previous year. The Months of Inventory based on Closed Sales is 2.7, up 175.8% from the previous year.
Homes For Sale in July 2022
Versus last year, the total number of properties available this month is higher by 3581 units of 81.2%. 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 up 14% 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 July 2022 Months of Inventory based on Closed Sales of 2.7 was increased by 175.8% compared to last year and up 43.2% compared to last month. July 2022 is Seller's market.
Months of Inventory based on Pended Sales The July 2022 Months of Inventory based on Pended Sales of 2.4 was increased by 141% compared to last year and up 14% compared to last month. July 2022 is Seller's market.
The Days on Market Shows Neutral Trend
The Average For Sale Price is Depreciating
The Average For Sale Price in July was $742,000, up 0.4% from $739,000 in July of 2021 and down 2.9% from $764,000 last month.
The Average Sold Price is Neutral The Average Sold Price in July was $621,000, up 4.2% from $596,000 in July of 2021 and down 2.4% from $636,000 last month.
The Median Sold Price is Neutral The Median Sold Price in July was $550,000, up 5.8% from $520,000 in July of 2021 and down 2.7% from $565,000 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!