July 2024 Market Report Sacramento, CA

The real estate market is currently experiencing a low inventory with only 1.68 months supply available. This means that there is high demand for homes and limited options for buyers to choose from. 

Over the past year, there has been a significant increase of 60% in the months of inventory, indicating a shift towards a more balanced market. This could be due to an increase in new listings or a decrease in buyer demand.

Homes are selling quickly, with a median of only 10 days on the market. This suggests that buyers need to act fast in order to secure a property in this competitive market.

Sellers are receiving offers close to their asking price, with a list to sold price percentage of 100.9%. This shows that homes are generally selling at or above the listing price, indicating a strong seller's market.

The median sold price for homes in this market is $518,000, demonstrating that prices are holding steady or potentially increasing due to the high demand and low inventory levels.

Overall, the real estate market is dynamic and competitive, making it important for both buyers and sellers to stay informed and act quickly in order to achieve their real estate goals.