Sonoma County inventory hit its peak of 4.6 months of supply in June of this year. It then fell steadily over the summer to just 2.9 months of supply in September, a whopping 23.7% lower than September of last year. But buyer demand has waned as inventory has decreased and prices have dropped modestly in Q3. Median price for a single family home ended the 3rd quarter at $830,000, 1% lower than last year at the same time. And the average price per square foot paid for a home in the county was $560 in September, 3.4% lower than last year at the same time. The average time it took for a home to sell in the county increased from 41 days in June to 54 days in September, 41% longer than September of 2023. The market has certainly slowed over the last several months and homes have begun selling for slightly lower than the list price for the first time since March of this year. Given that the Fed just cut rates by .5% with promises of more rate cuts to come, we are watching the Sonoma County market closely to see how these cuts affect buyer interest and prices through the end of the year.
Here are some key data points for single family homes across the county:
REGION # SALES AVG SQFT AVG $/SQFT Median Price
Healdsburg 33 1876 $805 $1.240M
Petaluma 133 1809 $607 $940K
Santa Rosa 402 1894 $499 $785K
Sebastopol 56 1983 $725 $1.232M
Sonoma 83 1949 $764 $1.125M
For specific data on your neighborhood or another property category, or for a market evaluation of your home, please reach out and I'd be glad to offer guidance. I am here to help you!
Months of Supply, Sonoma County - Single Family Homes
Median Price, Sonoma County - Single Family Homes
Average $/SF, Sonoma County - Single Family Homes
