Sacramento Real Estate Update
Home Prices are going up! Even with the current interest rates, February brought an increase in average home prices in Sacramento County to $594,000, up from $570,000 in January and $563,000 in December.
The average sold price increased by 1.4% from the previous month, the average sold price increased 6.5% vs the same month 1 year ago (February stats). Houses are also sitting on the market for less time. The average days on market in February was 35 days, compared to 39 days in the previous month. Days on Market in February of the previous year was 51 days, so year over year days on market went down.
The graph below shows the real estate trends for Sacramento County over the last year. February 2024 had 880 single family homes for sale, 928 new listings in February and 682 single family homes sold in February in Sacramento County. Single Family homes sold was down 2.3% compared to February 2023, and up 12% compared to the previous month of January 2024.
The bottom graph shows the average sold price in Sacramento County for February 2024 at 594k, while the average for sale price was 770k, compared to a year ago, February 2023 had an average sold price of 529k and an average for sale price of 723k.
If you would like to know what your home is currently worth, I would be happy to provide you with a free home valuation.
I appreciate all referrals! If you have friends or family looking to buy or sell in the Greater Sacramento Area, I can help.
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Call Randall 916-529-3707
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