California

Sacramento’s real estate market is exhibiting some <a href="https://www.realtytrac.com/market-trends/sacramento-ca/">interesting trends</a> that merit attention from prospective buyers, sellers, and investors alike. One of the key observations our recent RealtyTrac property data is a marked decline in the average sold price per square foot, dipping from April 2024 to May 2023. This trend could signal a cooling period, where property prices are becoming more buyer-friendly, possibly leading to increased market activity as properties become more affordable.
See out <a href="https://www.realtytrac.com/resources/sacramento-property-market-sees-home-values-grow-12/">previous report on Sacrament from February</a> this year.
Here is a snapshot of current values compared to last year
<table class="sc-7568d94b-0 lffsHh">
<thead class="sc-7568d94b-1 fnNaKO">
<tr class="sc-7568d94b-4 fHMrnc">
<th class="sc-7568d94b-2 hTsliE"></th>
<th class="sc-7568d94b-2 hTsliE">May 2023</th>
<th class="sc-7568d94b-2 hTsliE">April 2024</th>
<th class="sc-7568d94b-2 hTsliE">Change</th>
</tr>
</thead>
<tbody class="sc-7568d94b-3 jhbPdf">
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Listing Price</td>
<td class="sc-7568d94b-5 eqHQXK">$389.4K</td>
<td class="sc-7568d94b-5 eqHQXK">$478.3K</td>
<td class="sc-7568d94b-5 eqHQXK">22.82%</td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Sold Price</td>
<td class="sc-7568d94b-5 eqHQXK">$473.3K</td>
<td class="sc-7568d94b-5 eqHQXK">$478.3K</td>
<td class="sc-7568d94b-5 eqHQXK">1.06%</td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes For Sale</td>
<td class="sc-7568d94b-5 eqHQXK">162</td>
<td class="sc-7568d94b-5 eqHQXK">146</td>
<td class="sc-7568d94b-5 eqHQXK">-9.88%</td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes Sold</td>
<td class="sc-7568d94b-5 eqHQXK">6,149</td>
<td class="sc-7568d94b-5 eqHQXK">6,302</td>
<td class="sc-7568d94b-5 eqHQXK">2.49%</td>
</tr>
</tbody>
</table>
Throughout the previous year, the average value of properties in the region has been experiencing modest fluctuations. This period was characterized by a decrease leading up to December 2023, with minor rebounds noted during the early months of 2024, before a subsequent decline in April. Despite these variations in price, the property count has remained quite stable, suggesting that while pricing has changed, the supply of properties in the market has not experienced a significant shift.
The <a href="https://www.realtytrac.com/sacramento-ca/sold/">volume of sold homes</a> has seen a substantial downturn since October 2023, climaxing in April 2024. This suggests a dampening of sales activity which might be attributed to various factors including economic conditions or shifts in housing demand.
Surrounding cities present contrasting scenarios:
<ul>
<li>Carmichael experienced an increase in average sold price per square foot, potentially indicative of heightened demand or desirability in the area. In contrast, North Highlands witnessed a rise in average sale prices against a backdrop of decreasing property values, presenting an intriguing case of market dynamics.</li>
<li>Fair Oaks showcase a higher average sale price relative to other neighborhoods, solidifying its status as a more upscale market segment. Conversely, Rancho Cordova’s property values saw a noteworthy ascent during the early portion of 2024.</li>
</ul>
This analysis underlines a few central points to be mindful of when engaging with the <a href="https://www.realtytrac.com/sacramento-ca/for-sale/">Sacramento housing market</a>: pricing per square footage is in decline, sales volumes have dipped, and neighboring areas are exhibiting diverse trends worthy of individual consideration.
<h2>Current State of Sacramento’s Real Estate Market</h2>
As of April 2024, Sacramento’s real estate market is characterized by an average property value of $409,451 and an average price per square foot of $289. Despite the broader trends of cooling prices, the average sale price has reached about $478,331, with an average sold price per square foot valued at $329. Over the noted period, a total of 6,302 properties have exchanged hands, underlining a significant volume of transactions despite the observed slowdown in the number of properties sold.
<h3 class="sc-fff60b4-3 bmIvnq">Overview of nearby zip codes and average house values</h3>
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<table class="sc-4b91b296-0 NvpMl">
<thead class="sc-4b91b296-3 QrbDO">
<tr class="sc-4b91b296-1 kcFJPr">
<th class="sc-4b91b296-4 jDLFWw">Zip</th>
<th class="sc-4b91b296-4 jDLFWw">Median Est. Value</th>
<th class="sc-4b91b296-4 jDLFWw">Zip</th>
<th class="sc-4b91b296-4 jDLFWw">Median Est. Value</th>
</tr>
</thead>
<tbody class="sc-4b91b296-2 xbjXs">
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95818/">95818</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 741,000
$ 404/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95815/">95815</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 327,500
$ 342/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95838/">95838</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 374,999
$ 277/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95829/">95829</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 541,200
$ 306/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95821/">95821</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 743,900
$ 373/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95826/">95826</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 581,400
$ 394/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95820/">95820</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 417,500
$ 376/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95824/">95824</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 361,750
$ 337/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95823/">95823</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 430,750
$ 321/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95833/">95833</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 633,250
$ 287/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95828/">95828</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 469,950
$ 316/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95816/">95816</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 549,250
$ 466/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95835/">95835</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 557,750
$ 295/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95817/">95817</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 513,111
$ 412/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95822/">95822</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 393,700
$ 363/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95811/">95811</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 774,500
$ 453/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95825/">95825</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 566,600
$ 379/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95864/">95864</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 798,850
$ 377/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95842/">95842</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 475,900
$ 331/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95832/">95832</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 426,170
$ 299/sqft
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95834/">95834</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 517,000
$ 314/sqft
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/sacramento-ca-95814/">95814</a></td>
<td class="sc-4b91b296-5 eMzjte">
$ 2,099,000
$ 1,210/sqft
</td>
</tr>
</tbody>
</table>
</div>
</div>
In Carmichael, we observe an average property value of $400,000, paired with a lower average price per square foot of $250 when compared with Sacramento. However, the average sale price in Carmichael stands higher at $599,600, suggesting buyers are willing to invest more in this locale. The average sold price per square foot here is $343—a stark contrast to the city’s lower average price per square foot—a sign of specific neighborhoods or property types fetching premium prices. The total property sold count is 535, indicating a relatively active market.
North Highlands presents a more modest average property value of $314,950 but surprisingly boasts a higher average sold price per square foot of $325 compared to its average price per square foot of $226, which could reflect specific pockets of high demand within this location. This area has seen 241 properties sold, offering an interesting niche for real estate exploration.
In comparison, Rio Linda maintains a steady average sold price per square foot around $319, showing consistency in its market with an average value sitting at $315,000. This area has seen a smaller number of transactions, with 125 properties sold, likely due to its limited property count.
The Fair Oaks market stands out with a high average property value of $569,900 and a sizable average sale price of $615,900. Its average sold price per square foot is $335, and with a volume of 461 properties sold, the data suggests a consistent draw for a more affluent buyer segment.
Rancho Cordova’s market analysis showcases an increasing trend in property values, reaching an average of $499,900, with an average price per square foot of $272. The average sale price in this area is up at $532,934, and the average sold price per square foot reflects a competitive $303, demonstrating a strong appeal with 662 properties sold.
These figures encapsulate the pulse of Sacramento’s real estate landscape and its neighboring areas. The data points highlight varying degrees of market strength and demand that could inform buying and selling decisions moving forward.

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