Is Now a Good Time To Sell Your Northern California Home?

By Frank Valente

Associate Broker at eXp realty of California. Active agent and broker since 2003 in the Sacramento Region. Retired from the Navy in 2002 after 24 years as a Commander. Former Surface Warfare Officer.

Is now still a good time to sell a home in Northern California? If you’re wondering about the Sacramento, Placer, and El Dorado counties, I can assure you that we’re still in a seller’s market as there are more buyers than homes for sale, and sellers still have the upper hand. To give you a better idea of how Northern California’s housing market is, here are key insights you need to know:

What’s the housing inventory like? Right now, we’ve got about 2,525 homes for sale across the region. A balanced market would have closer to 5,000 – 6,000 homes, so we’re still running low on supply. That means sellers still have an advantage, but buyers are seeing a little more breathing room compared to the frenzy of 2021 and 2022.

How fast are homes selling? Currently, there are 1,492 homes under contract, and in the last 30 days, 1,050 homes have sold. With over two months of inventory, it’s still a great time to sell. A buyer’s market begins at six months of inventory, and we’re nowhere near that. While things have cooled from the ultra-competitive days of multiple offers within hours, well-maintained and competitively priced homes are still moving fast.

What about home prices and interest rates? Over the past eight months, home prices have held steady, meaning they’re selling for about the same as they were in mid-2024. Year-over-year, prices are still up, but the rapid jumps we saw before have leveled off.

Interest rates are currently between 6% and 7%, which has some buyers hesitating. However, motivated buyers are still in the market, and if rates drop later, they always have the option to refinance. For sellers, this means pricing strategically is important as buyers are being more selective, and overpriced homes are sitting longer.

How does new construction affect resale homes? Builders are still putting up a lot of homes, and they’re selling. While that’s a good sign for the overall market, it does create competition for resale homes. Some buyers are drawn to new builds, especially when builders offer incentives like rate buydowns or closing cost assistance. If you’re selling an existing home, making sure it’s well-presented and priced right is more important than ever.

Can assumable mortgages attract more buyers? One strategy that can make your home more appealing is offering an assumable mortgage. If you have a loan with a locked-in lower rate—say, 2.5% or 2.75%—a buyer may be able to take over that loan, potentially saving them thousands in interest. This can be a game-changer in a higher-rate environment and help your home stand out from the competition.

Northern California’s market is still moving—just in a more balanced way than before. Keep an eye on rates, inventory, and new construction, because those will be the biggest drivers of change in the months ahead. If you want to know more about the market, just give me a call at 916-257-0893. I’m happy to help.