Sacramento County Housing Market Summary November 2021
Discover what's trending with this Sacramento County Housing Market for November 2021. 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 November 2021
November 2021 is a Seller's market! The number of for-sale listings was down 4.6% from one year earlier and down 25.3% from the previous month. The number of sold listings decreased 7.5% year over year and decreased 8.3% month over month. The number of under-contract listings was down 3.8% compared to the previous month and up 7.4% compared to the previous year. The Months of Inventory based on Closed Sales is 0.9, up 11.9% from the previous year.
Homes For Sale in Nov 2021
The total number of properties available this month is lower by 163 units of 4.6%. This year's smaller inventory means that buyers who waited to buy may have a smaller selection to choose from. The number of current inventory is down 25.3% 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 Nov 2021
The November 2021 Months of Inventory based on Closed Sales of 0.9 was increased by 11.9% compared to last year and down 18.8% compared to last month. November 2021 is Seller's market.
Homes Placed under Contract in Nov 2021
The November 2021 Months of Inventory based on Pended Sales of 0.8 was decreased by 10.7% compared to last year and down 28.1% compared to last month. November 2021 is Seller's market.
The Days on Market Shows Upward Trend for November 2021
The Average For Sale Price is Neutral
The Average For Sale Price in November was $757,000, up 4.1% from $727,000 in November of 2020 and up 3.3% from $733,000 last month.
The Average Sold Price is Neutral
The Average Sold Price in November was $587,000, up 15.8% from $507,000 in November of 2020 and up 1.2% from $580,000 last month.
The Median Sold Price is Neutral
The Median Sold Price in November was $525,000, up 16.9% from $449,000 in November of 2020 and up 1.9% from $515,000 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!