T
he Sonoma County real estate market is shifting in favor of sellers, but Healdsburg stands out as an exception to the trend. As we entered 2024, economists predicted a 20-25% increase in sales volume from the 30-plus year lows seen in 2023. However, local markets have largely stagnated over the past year.

    According to BARIES MLS data, Sonoma County had 874 single-family homes available for sale at the end of October, a 24% increase from the same period last year. Sellers listed 285 new properties, a 2% decrease from 2023, while buyers secured 350 new deals, a 25% jump from last year. Completed sales reached 381 in October, up 14% from the previous year.

    The months' supply of inventory (MSI) is a key metric indicating market balance. An MSI between 4 and 6 suggests a balanced market, while lower numbers favor sellers. Sonoma County's MSI reading of 2.3 indicates a seller-favorable market that may lead to price increases in 2025.

    In contrast, the town of Sonoma reported 138 homes for sale at the end of October, with an MSI reading of 4.2, indicating a neutral market. Healdsburg, however, saw a surge in new listings and sales, leaving it with 96 dwellings available to buyers and an MSI reading of 5.6.

    Petaluma's Westside and Sebastopol also reported low inventory levels, with MSIs of 2 and 2.2, respectively. These markets are likely to remain seller-friendly in the coming months. The trend suggests that both listings and sales are increasing ahead of the typical holiday slowdown, which may lead to a resurgence in activity after the new year.

    As the market continues to shift, buyers and sellers should prepare for potential changes in the coming months.