Sacramento County Housing Market Summary March 2022
Discover what's trending with this Sacramento County Housing Market for March 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 March 2022
March 2022 is a Seller's market! The number of for-sale listings was up 23.6% from one year earlier and up 15.1% from the previous month. The number of sold listings decreased 2.2% year over year and increased 30.1% month over month. The number of under-contract listings was up 29.2% compared to previous month and down 4.4% compared to previous year. The Months of Inventory based on Closed Sales is 0.8, up 31.8% from the previous year.
Homes For Sale in March 2022
Versus last year, the total number of properties available this month is higher by579 units of 23.6%. 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 up 15.1% compared to the previous month
A comparatively lower Month 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
Homes Closed in March 2022
The March 2022 Months of Inventory based on Closed Sales of 0.8 was increased by 31.8% compared to last year and down 11.1% compared to last month. March 2022 is Seller's market.
Homes Placed under Contract in March 2022
The March 2022 Months of Inventory based on Pended Sales of 0.7 was increased by 38.8% compared to last year and the same compared to last month. March 2022 is Seller's market.
The Days on Market Shows Neutral Trend*
The Average For Sale Price is Appreciating*
The Average For Sale Price in March was $820,000, up 3.8% from $790,000 inMarch of 2021 and up 2.5% from $800,000 last month.
The Average Sold Price is Appreciating*
The Average Sold Price in March was $639,000, up 16.4% from $549,000 inMarch of 2021 and up 5.1% from $608,000 last month.
The Median Sold Price is Appreciating
The Median Sold Price in March was $560,000, up 15.5% from $485,000 inMarch of 2021 and up 3.3% from $542,000 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!