June '25 Deep Dive

The Local Lowdown

Quick Take:

Median sale prices continue to decline throughout most of the North Bay, with the exception of Marin County.
We saw a steep decline in the amount of inventory on the market, with total for-sale single-family home listings dropping by 10.74%, compared to May 2024.
Despite this drop in inventory, listings are still staying on the market for slightly longer than they were last year.

Note: You can find the charts/graphs for the Local Lowdown at the end of this section.

Median sale prices decline throughout most of the North Bay

In May, the North Bay market saw home values dip across most counties, signaling a potential shift in momentum. Marin County stood out as the lone exception, with a modest 2.72% year-over-year increase in single-family home prices. Elsewhere, however, price adjustments were more pronounced. Napa County experienced a significant 12.03% decline, while Solano and Sonoma Counties recorded more modest decreases of 2.93% and 2.52%, respectively.

The condo market followed a similar trajectory. Median sale prices dropped 2.84% in Sonoma County, 6.67% in Marin, and 3.79% in Solano, all on a year-over-year basis.

North Bay inventories see a sharp decline

Despite falling prices, inventory in the North Bay continues to tighten. Single-family home listings dropped 10.74% compared to last May. Condo inventory saw a slight 1.46% increase, but overall, available supply remains lower than last year.

The reason? New listings are down across the board. Both condo and single-family home listings declined by approximately 30%, year-over-year — an indication that fewer homeowners are choosing to sell. With fewer homes entering the market, even modest sales activity is enough to keep inventory levels tight. In fact, single-family home sales were down just 4.89% from last year.

Listings are spending more and more time on the market

Homes are taking longer to sell — a trend we’ve been watching closely. Compared to last year, single-family homes are sitting on the market five days longer in Sonoma County, and two days longer in Marin, Solano, and Napa Counties.

This is especially noteworthy given the inventory shortage. Typically, low inventory puts pressure on buyers to move faster — but in this case, a more cautious pace seems to be holding. That said, if inventory stays low, we may start to see homes selling more quickly again as demand builds through the summer.

Solano County is the only seller’s market left standing

Looking at Months of Supply Inventory (MSI), the North Bay presents a mixed landscape. Solano County remains a sellers’ market with just 2.5 months of supply — below the 3-month threshold that defines a balanced market.

Marin County, with 3.0 months, is balanced. Sonoma County sits at 3.5 months, while Napa County has surged to 7.0 months of supply — making it a strong buyers’ market and a potentially rare opportunity for those looking to negotiate favorable terms in wine country.

Bottom Line:

The North Bay is shifting into more balanced — and in some cases, buyer-favorable — territory. With prices softening in most counties and new listings slowing dramatically, buyers may find themselves in a stronger position, especially in Napa and Sonoma. For sellers, strategic pricing and strong presentation are more important than ever. Whether you're buying into the North Bay lifestyle or planning your next move, understanding these hyper-local shifts can make all the difference.