RESALE HOME MARKET RINSES AND REPEATS

 Inventory, new listings and sales are all quite similar year-over-year.

During the month of October, 1,635 resale homes closed escrow throughout the Greater Sacramento region. That figure reflected a 6 percent drop compared to September when it appeared as though the market was looking to make a fourth quarter run. The lessening of activity also reflected an unfortunate 5 percent decrease versus October of 2024. 

An uptick in home sales at this time of year is always rare; however, the market has been anticipating a change of direction after three straight years of muted activity. Comparatively, resale home transactions fall approximately 35 to 40 percent below figures posted during October of 2018 and 2019. Sales metrics from that time frame are perceived to be more normal than the highs and lows of subsequent years that were substantially impacted by erratic lows and then highs with mortgage interest rates.

“The resale housing market remains sluggish but positioned to improve,” says Pat Shea, President and CEO of Windermere Signature Properties. “The traditional seasonal slowdown is always expected yet the recent decline in mortgage interest rates found many analysts a bit more optimistic than last year at this time. New open escrows at 1,697 for the month, were down slightly 1 percent compared to September yet are up an encouraging 7 percent versus October of last year. This again implies that plenty of buyers remain both willing and able to make their move when the right home appears.”

The number of active and available homes for sale considering all price points at month-end stood at 4,152, a 5 percent drop since September. The level of standing inventory remains, however, approximately 14 percent higher than last year at this time. Shea believes this could possibly improve winter market sales as “willing buyers currently have many more opportunities and choices.” He stated that “based upon the current rate of sales, the region has approximately 2.5 months of available housing supply. Considering market conditions over the past 3 to 4 years, 2 to 3 months of supply is typically perceived as a balanced market. More inventory and choices for prospective buyers at this time of year is always a positive condition.” 

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The upper-end or one million dollars and above price point, experienced some softening during the month of October as well. Closed transactions were down 10 percent versus September with new open escrows down 7 percent. New open escrows for the trailing 3 months combined however, trended 12 percent higher compared to the same period last year. Closed sales for that same 3-month period, however, were up just 9 percent, indicating that some previously opened transactions may spill over into November. Inventory rested at 638 properties available on October 31st. That left slightly more than 4 months of supply in the upper end, which is considered moderate across Greater Sacramento for this price range. 

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The average closed sales price, when considering all price points over the past 3 months, landed at $674,000. This represented less than a 2 percent increase year over year. Properties that successfully closed escrow during the same time frame were on the market an average of 48 days and received, on average, 96 percent of original list price. Both metrics are slightly less favorable than last year.

New listings entering the market during the month were nearly even with those of September yet 2 percent lower than October of 2024. Shea offered that, “this left the market with approximately 2.5 months of housing supply, which is quite reasonable by today’s standards. We know that buyers are still out there looking and remain eager to find their ideal home. We also know that more prospective sellers have grown tired of waiting and are prepared to unlock from their existing mortgage and rate. Market studies indicate that an increased number of sellers and buyers will choose to move forward with their life plans in the coming months. Thus, the market will most likely remain a bit slower but relatively steady throughout the Holiday season with a breakout year in 2026 very possible.” 

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This market information was presented by Windermere Signature Properties based on data provided by Trendgraphix Inc., a Sacramento-based reporting company.

ABOUT WINDERMERE REAL ESTATE Windermere Signature Properties, formerly known as Lyon Real Estate, has served the Greater Sacramento Region for over 79 years. Last year, the company closed over 3,300 transactions and nearly $2 billion in sales volume. Windermere Signature Properties has over 600 agents in 13 offices located throughout the Sacramento region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally branded firms, as well as LeadingRE’s Luxury Portfolio International® program. Since 2015, Windermere Real Estate has contributed more than $1,622,565 to local nonprofits throughout the Sacramento region.

ABOUT TRENDGRAPHIX, INC. TrendGraphix, Inc. is a real estate data analytics company based in Sacramento that uses local Multiple Listing Service (MLS) data. TrendGraphix provides highly visual performance and market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of brokers and agents in more than 300 brokerages across the nation. For more information about TrendGraphix, visit www.trendgraphix.com.