Sacramento County Real Estate Market Update - November 2024

November 2024 brought steady activity to the Sacramento County real estate market, showcasing its enduring appeal to buyers and sellers alike. Known for its balance of affordability, lifestyle, and accessibility, Sacramento remains a key player in California's real estate landscape. Here's a closer look at the market's performance, trends, and their implications for buyers and sellers.

New and Active Listings

With 72 new listings added to the market in November, Sacramento County experienced a modest but significant refresh in inventory. This creates opportunities for buyers actively seeking fresh options, whether they're looking for cozy suburban homes or larger rural properties. Total active listings stood at 115, providing a diverse range of properties for buyers to consider despite the smaller market size.

For sellers, the relatively low inventory can be advantageous. Fewer competing homes on the market often result in increased visibility for individual properties, which could drive quicker sales for well-priced and well-maintained homes.

Pending and Closed Sales

The market activity continued with 46 pending sales, reflecting ongoing interest from buyers despite the typically slower pace during the holiday season. Additionally, 33 closed sales were finalized in November, providing clear evidence that serious buyers remain engaged. This level of activity highlights Sacramento's role as a stable and attractive real estate market that stays vibrant even at the tail end of the year.

Closed Transaction Volume

The total closed transaction volume for November 2024 reached $33,841,000. This number underscores the consistent value exchanged within the Sacramento County market. While the transaction volume is smaller compared to larger counties in the state, it demonstrates the region's growing importance for buyers and investors seeking practical entry points into California's real estate market.

Average Days on Market

Homes in Sacramento County spent an average of just 23 days on the market before being sold. This quick turnaround time suggests high demand and an engaged pool of buyers actively looking to secure homes. A shorter days-on-market metric benefits sellers, giving them confidence in a swift sale and reducing the carrying costs of holding onto a property.

Median Sales Price

The median sales price in November was $518,000, presenting a balanced midpoint for property values in the region. This price offers a sustainable and attractive option for buyers moving into the area, especially when compared to the much higher median prices in larger Californian markets like San Francisco or Los Angeles. For sellers, this median value provides a solid benchmark to gauge competitive pricing.

Market Implications

The Sacramento County real estate market in November 2024 reflects steady, sustainable activity. The influx of new listings ensures fresh choices for buyers, while a shorter average days-on-market and reasonable inventory levels keep the market moving efficiently. For sellers, current conditions are promising as demand continues to support strong transaction activity.

For buyers, this market presents an opportunity to secure a home at a median price that remains highly competitive in California. Prompt decision-making is key, given the quick turnaround of listings. Meanwhile, sellers who price their homes appropriately and present them in the best possible condition can expect positive outcomes, especially in a market demonstrating stable and supportive trends.

Whether you're buying or selling in Sacramento County, staying informed and working with local experts is critical for navigating today's real estate market. The momentum demonstrated in November 2024 proves that Sacramento continues to be a thriving and balanced option for all parties in the housing sector.