Hot Trends in Arden Park Real Estate: July 2023 Market Report

Summer is in full swing, and so is the Arden Park real estate market! If you've been keeping an eye on the housing scene, you'll be thrilled to know that the July 2023 market report has some intriguing highlights to share. Let's dive into the numbers that are shaping the current landscape.

1. Rising Values: Arden Park homeowners have every reason to smile, as the median home price has surged by a remarkable 11% compared to last year. This impressive year-over-year increase signifies the area's growing desirability and the enduring appeal of its properties.

2. Supply Squeeze: If you've been thinking about making a move, now might be the time to do it. The market has experienced an 18% decrease in housing supply quarter over quarter. This reduction in available properties hints at heightened competition among buyers and potential opportunities for sellers.

3. Shifting Metrics: While the price per square foot has seen a decline, that is mainly due to the low number of sales in Q3 2023 (we're only one month in) and the difference in square footage of the homes sold, not necessarily due to a cooldown in the market. Additionally, the average days on market have also decreased. This is mainly due to a few sales with exceptionally high days on market that have been absent so far this quarter.

As we navigate the summer months, it's clear that the Arden Park real estate scene is a dynamic one. The blend of rising values and reduced supply creates an environment where informed decisions are crucial, whether you're a buyer or a seller.

Are you wondering what these trends mean for your real estate aspirations? Whether you're a homeowner seeking to capitalize on the market or a prospective buyer aiming to make a smart investment, these insights can help guide your choices.

Feel free to reach out for a more detailed analysis or personalized advice. The Arden Park market is evolving, and I'm here to help you navigate its exciting twists and turns. Stay tuned for further updates and remember, informed decisions make for successful real estate ventures!

Median home price is calculated based on a calendar year over year. Supply is calculated based on a rolling quarter over quarter. Price per SqFt and days on market are calendar quarter averages. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. The sales and listings provided were populated from the Multiple Listing Service and are not properties sold or listed by Heather Khan.

Heather Khan

Experienced Appraiser & Dedicated Broker