North Bay Housing Update: Supply, Selling Times, and Rates

By Shawn Hermosillo

Shawn Hermosillo, founder of Hermosillo Real Estate Group (HRE), is a Sonoma County native with deep roots in the community and a passion for real estate.

The North Bay real estate market is shifting fast, making it challenging to keep up with. I’m here to help you understand everything and guide you through every step if you’re unsure how these changes affect you.

In just the last 60 days, my team at The Hermosillo Group has helped over seven families buy and sell homes in the Greater North Bay area. It’s been an exciting journey for them, and we’re ready to do the same for you.

We currently have four active listings, three active escrows, and seven pre-approved buyers searching for their dream homes. The market is full of opportunities, and I want to help you seize them.

Here are some significant changes in North Bay’s housing market compared to last year:

• 26% more homes for sale. With about 3,004 homes available, buyers have more options than ever.
• Sales are up by 12%. More homes are changing hands, with 989 sold in September alone.
• Homes are taking longer to sell. The average time on the market is now 52 days, a 48% increase from last year.
• Supply is outpacing demand: Homes are coming on the market faster than buyers can grab them.

So, what does this mean for you? If you’re a buyer, with more homes available and longer days on the market, you have a better selection and more room to negotiate. On the other hand, if you’re selling, pricing your home right and making it stand out are more important than ever. With so many options out there, you want your home to be the one that buyers can’t pass up.

Also, interest rates have risen in the last two weeks and are now in the low 6% range. This could affect your buying or selling strategy, so staying informed is important.

I know the market changes can feel overwhelming, but there’s an opportunity here if you know how to seize it. Whether you’re looking to buy, sell, or stay in the loop, I’m here to guide you.

Your goals are my priority, and together, we can turn this evolving market into your success story. Ready to make your next move? Contact me at 707-591-0570 or hermosillogroup@gmail.com, and let’s get started today.