Sacramento County Housing Market Summary October 2022
Discover what's trending with this Sacramento County Housing Market for October 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 October 2022
October 2022 is a Seller's market! The number of for sale listings was up 35.6% from one year earlier and down 4.2% from the previous month. The number of sold listings decreased 46.6% year over year and decreased 24% month over month. The number of under contract listings was down 3.9% compared to the previous month and down 40.1% compared to the previous year. The Months of Inventory based on Closed Sales is 2.4, up 145.8% from the previous year.
Homes For Sale in October 2022
Versus last year, the total number of properties available this month is higher by 545 units of 35.6%. 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 down 4.2% 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 October 2022 Months of Inventory based on Closed Sales of 2.4 was increased by 145% compared to last year and up 25.8% compared to last month. October 2022 is Seller's market.
Months of Inventory based on Pended Sales The October 2022 Months of Inventory based on Pended Sales of 2.3 was increased by 129% compared to last year and the same compared to last month. September 2022 is Seller's market.
The Days on Market Shows Upward Trend
The Average For Sale Price is Neutral* The Average For Sale Price in October was $661,00, down .5% from $664,000 in October of 2021 and down .8% from $666,000 last month.
The Average Sold Price is Depreciating* The Average Sold Price in October was $555,000, the same as in October of 2021 and down 3.5% from $575,000 last month.
The Median Sold Price is Depreciating* The Median Sold Price in October was $511,000, up .2% from $510,000 in October of 2021 and down .8% 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!