The Local Lowdown: December 2025

Michelle Kim | December 31, 2025

The Local Lowdown

Quick Take:

The median single-family home in Marin County sold for 10% less than it did just one year ago in November.
Inventories in the North Bay dropped by more than 20% when compared to last month!
Despite the inventory dropoff, listings are spending quite a bit more time on the market than they were last year.

Single-family homes in Marin County are sold for considerably less on a year-over-year basis

Throughout the month of November, most of the single-family market was relatively stable. We saw slight fluctuations in median sale price for single-family homes in Sonoma and Napa Counties, with the former declining in value by 0.99% on a year-over-year basis, and the latter increasing in value by 1.72% on a year-over-year basis. However, we saw much larger swings in Solano and Marin Counties, with median single-family homes selling for 3.50% less on a year-over-year basis in Solano County and 10.03% less in Marin County. As per usual, the condo market was remarkably volatile, with muted moves in median sale prices in Sonoma and Marin Counties, and big swings in Solano and Napa Counties. Solano County condos sold for 32.46% less when compared to last year, while Napa County condos sold for 65.35% more.

Single-family inventory decreased by 29.93% month-over-month

Last month, we saw some steeper-than-usual drop-offs in inventory, which was very interesting, especially considering the elevated levels of inventory that we experienced for the vast majority of 2025. The single-family home market saw a 29.93% month-over-month drop in inventory, which equates to a 20.14% year-over-year drop. The swing in the condo market wasn’t quite as volatile, as inventories dropped by 22.63% month-over-month or 14.04% year-over-year. In both markets, we’re seeing lower inventory levels now than we did last December, so one could assume that we’ll see drastically lower inventories once again once the December data comes out.

The average Napa County condo has been on the market for nearly half a year

Although the headline here is shocking, it’s not exactly an outlier. We saw substantial year-over-year increases in the amount of time listings are spending on the market across the board. Single family homes are spending considerably more time on the market in Sonoma, Solano, and Napa Counties, with 32.50%, 20%, and 71.46% year-over-year increases in days on market, respectively. However, Marin County seems unphased, with the median home spending 31 days on the market in both November 2024 and November 2025. Likewise, Marin County condos are actually spending less time on the market with a year-over-year decrease of 26.83%!

The winter shift toward seller’s markets

When determining whether a market is a buyers’ market or a sellers’ market, we look to the Months of Supply Inventory (MSI) metric. The state of California has historically averaged around three months of MSI, so any area with at or around three months of MSI is considered a balanced market. Any market that has lower than three months of MSI is considered a sellers’ market, whereas markets with more than three months of MSI are considered buyers’ markets.

Throughout the winter, we often see inventories at a low level, as many are too busy with the holidays and visiting family to worry about moving. We saw this shift this month, as both types of homes in all counties experienced month-over-month declines in months of supply, meaning all markets moved back toward a seller’s market. When it comes to the single-family market, there were 2.6, 1.7, 2.4, and 5.6 months of inventory on the market in Sonoma, Marin, Solano, and Napa Counties, respectively. Likewise, we saw the condo market end the month with 3.2, 3, 4.4, and 5.1 months of inventory on the market in Sonoma, Marin, Solano, and Napa Counties, respectively.