Sacramento Market Update:

January 2024 was a Seller's market! The number of for sale listings was down 29.6% from one year earlier and down 5.6%

from the previous month. The number of sold listings increased 13.8% year over year and decreased 5.1% month over month.

The number of under contract listings was up 24.6% compared to previous month and up 17.8% compared to previous year. The

Months of Inventory based on Closed Sales was 1.3, down 38.1% from the previous year.

The Average Sold Price per Square Footage was down 0.3% compared to previous month and up 4.8% compared to last year.

The Median Sold Price increased by 2% from last month. The Average Sold Price also increased by 1.8% from last month.

Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".

The Average Days on Market showed a upward trend, a decrease of 28.9% compared to previous year. The ratio of Sold Price

vs. Original List Price was 98%, an increase of 3.2% compared to previous year.

It was a Seller's Market

Property Sales (Sold)

January property sales were 297, up 13.8% from 261 in

January of 2023 and 5.1% lower than the 313 sales last month.

Current Inventory (For Sale)

Versus last year, the total number of properties available this

month was lower by 162 units of 29.6%. 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 down 5.6% compared to the previous month.

Property Under Contract (Pended)

There was an increase of 24.6% in the pended properties in

January, with 370 properties versus 297 last month. This

month's pended property sales were 17.8% higher than at this

time last year