Top Medium Teams in Sacramento, California – Ranked by Sides

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2023 Sacramento, California Housing Market Summary

Sacramento, California started 2023 with a total of 630 single-family homes on the market, with a median home price of $499,000 and an average price per square foot of $355. By the end of the year, inventory had decreased to 415 homes on the market (-34%), with a median home price of $509,950 (+2%) and an average price per square foot of $368 (+3%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 49 days.

Sacramento started the year with 48% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 35% of Sacramento homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Sacramento started 2023 as a strong seller’s market, with an MAI score of 52; by the end of the year, the MAI had rose to 57 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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