Sacramento CA Real Estate - Sacramento CA Homes For Sale | Zillow (2024)

FAQs

Are housing prices dropping in Sacramento? ›

Sacramento Housing Market Forecast

While the median house price went down by 7.5% in May 2023 compared to last year, experts forecast that prices will increase, given the competitiveness of the market. A big reason for Sacramento's popularity is because it remains cheaper than neighbors like San Francisco and San Jose.

Another option is to use the “living wage” calculation made available by researchers at MIT. According to their data, a single adult would need to earn $25.93 an hour in order to live in Sacramento (or $53,930 a year before taxes).

Sacramento Home Appreciation Rates

Sacramento real estate appreciated 196.09% over the last ten years, which is an average annual home appreciation rate of 11.47%, putting Sacramento in the top 10% nationally for real estate appreciation.

Sacramento, CA housing market

In June 2024, the median listing home price in Sacramento, CA was $499K, flat year-over-year. The median listing home price per square foot was $337. The median home sold price was $520K.

As of April 2024, the Sacramento area boasts an average home value of $584,289 (Zillow), reflecting a healthy 3.9% increase year-over-year. This indicates sustained demand and a market that favors sellers.

Yes, Sacramento is one of the best places to buy a house in California. It has neighborhoods like Land Park, excellent schools, and attractions such as the California State Capitol and the Sacramento Zoo. The city's housing market is growing and offers great investment opportunities.

As of 2022, middle-class household income ranged between $61,270 and $183,810 in the Golden State, according to a recent analysis from personal finance site GoBankingRates.

If you're living in Sacramento, $1 million could last about 15 years, according to the GoBankingRates study. The annual cost of living in the capital city is about $66,000.

As of Jul 31, 2024, the average annual pay for a Wealthy in Sacramento is $68,848 a year. Just in case you need a simple salary calculator, that works out to be approximately $33.10 an hour. This is the equivalent of $1,324/week or $5,737/month.

Sacramento homes make some of the best investment properties if you're looking to invest in a single-family home, multi-family housing, vacation rental, or short-term rental. The Sacramento area is home to some of the best neighborhoods and suburbs for real estate investors to consider.

How hot is the Sacramento housing market? ›

The Sacramento housing market is very competitive. Homes in Sacramento receive 4 offers on average and sell in around. The median sale price of a home in Sacramento was $520K last month, up 11.2% since last year. The median sale price per square foot in Sacramento is $343, up 1.6% since last year.…

Population trends

Among 95820 residents, there is a homeowner vacancy rate of 1.3% and a rental vacancy rate of 5.0% from a total of 13,480 units.

It costs around 82.1% more to buy a starter home than renting one. While the median monthly rent payment costs $1,845, the average monthly mortgage payment in Sacramento costs $3,359.

Sacramento has a mild climate with warm, dry summers and cool, wet winters. This makes Sacramento a good place to live for those who enjoy outdoor activities year-round. The city experiences an average of 269 sunny days per year, allowing residents to take advantage of the numerous parks and outdoor spaces.

Land Park

Land Park is the most expensive neighborhood in Sacramento, as the average rent for a one-bedroom unit is $2,600.

Experts suggest there may be some moderation in price growth, but it is unlikely that we will see broad declines in the California real estate market. Compared with previous cycles, 2024 shows similar trends around tight inventory and high demand.

This up-and-coming city is certainly on the rise, and people are moving from all over the bay area to make a life for themselves in this newly thriving community. But it wasn't always this way. Many factors have come into play in recent years that made Sacramento such an enticing option.

While rent increases are expected, affordability remains a concern, impacting tenant choices and potentially slowing market momentum. Key Statistics: Median rent: $1,750 (Zillow, January 2024) Year-over-year rent growth: 4.5% (Apartment List, December 2023)