Q3 2024 Real Estate Market Opinion: Greater Sacramento Region
The 2024 Sacramento region housing market presents a complex landscape marked by stabilization amid ongoing economic challenges. It was a mixed bag around the region. Following the rapid fluctuations of the previous years, the market has begun to find its footing, characterized by modest price growth and persistent buyer interest. Low inventory levels continue to exert upward pressure on home prices, especially in “affordable” communities with lower price points. The higher interest rates reshaped buyer strategies and affordability over the past two years. The recent reduction in the federal funds rate may not have an immediate impact, as current mortgage interest rates already have this “baked” in. Over the next 12-18 months, however, we should see some sellers with historically low mortgage rates begin to sell, but with more buyers entering the market, we will likely continue to see prices increase. We are seeing an increase in inventory and an increase in the days on market, which suggests a trend towards a more balanced market between buyers and sellers when it was largely a seller’s market for the last few years. As we continue projections for the remainder of the year, the Sacramento region remains an attractive area for both buyers and investors despite the difficult housing climate both locally and nationwide.
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Sacramento Region - North
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Sacramento Region - East
2024 Q3 Statistics | January 1st - September 30th
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SALES VOLUME 2024
$3,875,120,400 $3,608,604,886
from
*Roseville, Rocklin, Granite Bay, Folsom, Fair Oaks, El Dorado Hills, Lincoln, Auburn, Placerville, Cameron Park **information gathered
MLS 10/3/2024
Sacramento Region - South
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Sacramento Region - Downtown
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Land Park, Curtis Park, East Sac, Oak Park, Tahoe Park
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Yolo County
Amador County
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SECURITY
Protect buyers from the cost of systems repairs during the first year of ownership.
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Chase International is one of the nation’s most successful independent real estate firms specializing in unique and distinctive luxury properties in the Tahoe/Reno/Sacramento/Vegas regions. We are proud to have sold nearly $9 billion in 4 Years and served 10,000+ families. With more than 360 highly qualified professional REALTORS® and 15 real estate locations, we are committed to our clients’ success. Chase has the most knowledgeable agents with the experience and connections to serve your needs.
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