Yes, but to add a bit, sanctifying grace can increase in us (see: Merit, at the Catholic Encyclopedia,
newadvent.org), and actual graces still abound in us even in a state of sanctified grace.
Basically, sanctified grace is an internal reality. The Holy Spirit is making a dwelling place within you. You have literally the supernatural ability to exist in Heaven at death. Without sanctifying grace, you simply cannot exist in Heaven. Heaven is supernatural, man is natural, therefore he needs such a grace. Even if St. Peter felt bad and said “come on in, anyways,” you wouldn’t be able to, because you lacked the means requisite for existing in Heaven.
Actual graces not only help us move towards sanctification, they help us do things that increase our sanctification and move us towards a holier destiny in Heaven. As per, again, the merit article in NewAdvent.