📊 New Year Real Estate Highlights & Wildfire Relief
Welcome to a new year! I must confess I’ve been a bit slow to embrace 2025, hence the late timing of this email. With everything going on, it seemed appropriate to allow some time for rest and reflection before jumping in.
How are things in your world?
In regards to Sonoma County real estate, so far it’s been a slow start. The typical holiday slowdown seemed to linger a bit longer, but market activity is starting to pick up. I am interested to see what trends are revealed when we get the January stats next month.
But before we look to the future, it’s important to evaluate the past. With that in mind, let’s look at last month’s housing market stats.
December’s data highlights key metrics as the market transitions into 2025.
➡ For single-family homes, the median sold price climbed to $850K, representing a 5.6% increase month-over-month and a 4.9% rise year-over-year. Homes sold at an average of $541 per square foot, down 1.5% from November but slightly below December 2023 levels.
➡ The market saw 236 properties sold, a 14.8% decline from November but a 6.8% increase compared to last year.
➡ Inventory tightened to 2.2 months, down 12% from the previous month but up 15.8% year-over-year, highlighting a competitive yet balanced market.
The condominium market exhibited more nuanced activity. The median sold price for condos was $388K, an 11.8% decrease from November and 5.4% below December 2023. Despite this, the average price per square foot rose to $406, a 3% year-over-year increase.
Condos spent an average of 56 days on the market, with 20 properties sold during the month. Inventory levels climbed to 2.6 months, reflecting a 44.4% increase year-over-year but remaining relatively balanced.
Click here to read the full Sonoma County December Market Report.
As Sonoma County steps into 2025, the market’s trajectory will depend on broader economic factors and local buyer behavior. Whether buying, selling, or investing, consulting with an experienced real estate professional will help you navigate this dynamic market with confidence.
pambuda@gmail.com | (707) 480-4142
______________________________________________________________________________________
❤️ Southern California Wildfire Relief & Lodging Support ❤️
My thoughts are with everyone affected by the Southern California wildfires. Sonoma County has not been directly impacted, is open for business, and has the welcome mat out for our visitors. We’ve been through similar experiences in the last decade and would love to be a resource to you.
For my friends impacted by the fires in the L.A. Basin, please follow this link.
Sonoma County’s lodging community has come together to provide discounted accommodations, offering a safe haven for evacuees who need a place to rest, regroup and begin to heal.
