February Market Deep Dive - North Bay
February 20, 2025
February 20, 2025
The Local Lowdown
Quick Take:
Median sale prices in the North Bay continue to stay roughly in line with the three year average, suggesting that the market continues to be incredibly strong.
Inventory continues to be an issue in the single family home market, as we saw a 16.55% decrease in active listings in the month of January.
Listings are staying on the market for longer, with single-family homes in Marin County experiencing a 34% year-over-year increase in the number of days on the market, and condos in Napa experiencing a 198% increase year-over-year.
The North Bay continues to be a very strong market
Despite 2024’s uncertainty, the North Bay remained strong. In January, Sonoma and Solano saw slight price dips (-1.80% and -1.65%), while Marin and Napa dropped more (-6.69% and -10.20%), mostly correcting earlier gains.
Napa remains a buyer-dominated market
Months of Supply Inventory (MSI) defines market balance, with three months as California’s average. Below three is a sellers’ market; above is a buyers’ market. Sonoma (2), Marin (1.2), and Solano (2.1) remain sellers’ markets, while Napa (3.8) continues as a buyers’ market.
Looking Ahead
With low inventory and strong prices, the market may be set for a strong year. However, it's early, so we'll watch inventory and sales trends closely.
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