March '25 Market Deep Dive

The Local Lowdown

Quick Take:

North Bay home values continue to stay within their respective post-pandemic “price bands”, deviating slightly from the long term averages.
Inventories remain a huge issue for the North Bay, as we see a 12.02% year-over-year decrease in inventories.
Listings are staying on the market for slightly shorter durations than they were last year in every county except for Napa, which saw a huge bump in average days on the market!

Prices increase throughout the entire North Bay!

Despite initial uncertainty, the North Bay housing market is off to a strong start. Single-family home prices have held steady or increased, with Sonoma, Marin, and Solano Counties seeing approximately 3% year-over-year growth. Napa County stands out with a 21% price surge, highlighting the high demand for homes in the region.

North Bay inventory levels continue to decrease year-over-year

While nationwide inventory is rising as sellers adjust to higher interest rates, the North Bay is bucking the trend. Active single-family home listings have dropped 12.02% year over year, though condo inventory has risen slightly by 6.14%.

This limited supply has fueled bidding wars, pushing homes off the market faster. The average time on market has decreased to 32 days in Sonoma (-5.88% YoY), 18 days in Marin (-5.26% YoY), and 36 days in Solano (-5.26% YoY). However, Napa is an outlier—despite a surge in median sale price, its average days on market jumped to 84, nearly double last year’s figure.

Napa continues to be a buyers’ market, while Solano, Marin, and Sonoma see fierce competition

The Months of Supply Inventory (MSI) metric determines market conditions, with California’s three-month average indicating a balanced market. Below three months favors sellers, while above three months favors buyers.

In the single-family home market, Sonoma (2.5 MSI), Marin (1.8 MSI), and Solano (2.2 MSI) remain seller’s markets, while Napa, with 4.7 MSI, favors buyers. The condo market is also more favorable to buyers, with MSI at 3.1 in Sonoma, 3.6 in Marin, 3.8 in Solano, and 4.9 in Napa.

Bottom Line

The North Bay housing market is off to a strong start, with single-family home prices rising about 3% year over year in Sonoma, Marin, and Solano Counties, while Napa saw a 21% surge. Unlike national trends, inventory is shrinking, with active single-family home listings down 12.02% annually, fueling bidding wars and shorter days on market—except in Napa, where listings now sit for 84 days. The region remains a seller’s market for single-family homes, with Sonoma (2.5 MSI), Marin (1.8 MSI), and Solano (2.2 MSI) favoring sellers, while Napa (4.7 MSI) leans toward buyers. Condos, however, present more opportunities for buyers across the North Bay.