Sacramento County Housing Market Summary September 2023
Updated: Nov 22
Discover what's trending with this Sacramento County Housing Market for September 2023. 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 September 2023
September 2023 was a Seller's market! The number of for sale listings was down 46.2% from one year earlier and up 3.7% from the previous month. The number of sold listings decreased 26.9% year over year and decreased 13.9% month over month. The number of under contract listings was down 8.1% compared to previous month and down 6.6% compared to previous year. The Months of Inventory based on Closed Sales was 1.4, down 26% from the previous year.
Homes For Sale in September 2023
Current Inventory (For Sale) Versus last year, the total number of properties available this month was lower by 1,003 units of 46.2%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory was up 3.7% compared to the previous month.
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
Homes Closed in September 2023
The September 2023 Months of Inventory based on Closed Sales of 1.4 was decreased by 26% compared to last year and up 17% compared to last month. September 2023 was Seller's market.
Homes Placed under Contract in September 2023
The September 2023 Months of Inventory based on Pended Sales of 1.3 was decreased by 43.3% compared to last year and up 8.5% compared to last month. September 2023 was Seller's market.
The Days on Market Shows Upward Trend for September 2023
The Average For Sale Price was Depreciating* The Average For Sale Price in September was $735,000, up 10.4% from $666,000 in September of 2022 and down 2% from $750,000 last month.
The Average Sold Price was Appreciating* The Average Sold Price in September was $606,000, up 5.4% from $575,000 in September of 2022 and up 1% from $600,000 last month.
The Median Sold Price was Appreciating* The Median Sold Price in September was $549,000, up 6.6% from $515,000 in September of 2022 and up 2.6% from $535,000 last month.
* Based on 6-month trend – Appreciating/Depreciating/Neutral
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!