2024 Sonoma & Napa Real Estate Market Recap

2024 was once again dominated by high interest rates and low inventory. Interest Rates started in 2024 averaging 6.72% and at one point dropped to 6.1% in September, only to end the year at 7.07% despite the Fed lowering the Federal Funds Rate by a full point

The number of listings in Sonoma County peaked in September and exceeded 2023 levels but still came no where close to the “normal” 2019 levels of inventory we were hoping for.

With more inventory to chose from, the days on market started to climb this year. The peak was 70 days in January, but Sonoma ended the year averaging about 64 days to sell a property.

As for Napa County, the number of listings also peaked in September. However, the numbers came very close to 2019 inventory levels bringing Napa closer to a “buyers” market in certain price pointsThe peak was 96 days in January, but Napa ended the year averaging about 72 days to sell a property. This is due to Napa having a higher average sales price which usually results in a longer sales cycle.

Brought to You By:

Nicola Roualdes, Realtor

Vanguard Properties

DRE#02023814