Research firm TrendGraphix says it marked the lowest supply level in the four-county region since early August.
"It means that it's still a pretty solid seller's market within reason. Any home that's priced right and marketed properly and is in good condition should sell at pretty close to the listing price."
The TrendGraphix report also shows that the median sales price in November was $280,000, up 27% from a year ago.
Shea predicts home values in Sacramento, Yolo, Placer and El Dorado counties will go up by another 5% to 10% in the new year because of the low resale inventory and because there isn't much new housing construction going on in the region.