Sacramento County Real Estate Market Update - September 2024

As we delve into September 2024, Sacramento County's real estate market presents intriguing dynamics, reflecting both opportunities and challenges for buyers and sellers alike. Known for its mix of urban convenience and suburban charm, Sacramento continues to attract a diverse group of homebuyers, from first-timers to seasoned investors.

New and Active Listings

In September, Sacramento County introduced 58 new listings to the market, contributing to a total of 96 active listings available for prospective buyers. This slight increase in inventory provides a modest selection for those looking to purchase, offering various choices across different neighborhoods. Although the inventory remains relatively low, it suggests a stable market where demand is being met with a consistent supply of new properties.

Pending and Closed Sales

There were 40 pending sales recorded in September, an indicator of ongoing buyer interest and engagement within the market. Additionally, the county saw 31 closed sales, highlighting a solid conversion of interest into finalized transactions. These figures demonstrate a steady market rhythm, where buyers remain active and sellers continue to find willing participants for their properties.

Closed Transaction Volume

The closed transaction volume for September reached $31,311,250, underscoring the economic activity within the region. This volume signifies a healthy investment landscape, with real estate transactions contributing significantly to the local economy. For investors, this could point to Sacramento County as a viable location for real estate endeavors.

Average Days on Market

Homes in Sacramento County spent an average of 33 days on the market, suggesting a balanced pace of sales. This timeframe allows buyers adequate opportunity to explore their options without feeling rushed, while still ensuring that sellers can anticipate a timely sale. It reflects a market that is neither too hot nor too cold, maintaining a steady flow of transactions.

Median Sales Price

The median sales price in September was $430,000, providing a benchmark for property values in the area. This price point offers insights into the affordability and value of homes within the county. For buyers, especially first-time homeowners, this median price indicates a relatively accessible entry point into the real estate market. Meanwhile, sellers can use this information to strategically price their homes to attract potential buyers.

Market Implications

Sacramento County's real estate market in September 2024 reflects a stable and balanced environment, characterized by a steady flow of new listings, active transactions, and manageable pricing trends. For buyers, the market offers a range of options without the pressure of a rapid turnover, while sellers benefit from ongoing interest and solid pricing metrics.

As the market continues to evolve, staying informed about these trends and seeking guidance from local real estate experts can be invaluable. Both buyers and sellers can leverage this knowledge to make informed decisions and navigate the Sacramento County real estate landscape with confidence.