Here's a little snapshot of what's going on in the real estate market:
π° The current 30-year fixed rate mortgage average in the U.S. is 6.77%, down 0.04% from last week and down 0.09% from this time last year. (Freddie Mac, 6/26/2025)
π° In Sonoma Valley, the number of active listings in May was 236, up 50% from May 2024. The SFR median sales price was $1.40M, no change from May last year. The number of sold listings in May was 36, up 16% from May 2024. (BAREIS)
π° In Napa County, the number of active listings in May was 548, up 46% from May 2024. The SFR median sales price was $910K, down 18% from May last year. The number of sold listings in May was 74, up 1% from May 2024. (BAREIS)
π° Borrowers should find comfort in the stability of mortgage rates, which have only fluctuated within a narrow 15-basis point range since mid-April. Although recent data show that home sales remain low, the resulting available inventory provides homebuyers with a wider range of options to consider when entering the market. (Freddie Mac)
With 50% more inventory in Sonoma Valley than last year, buyers have a lot more options but remain cautious about buying. I was reminded today of the old adage, "date the rate, marry the house."
While rates remain steady in the high sixes, if you can afford your mortgage now, remember you can refinance at a later date. And with more inventory in the market, buyers have more negotiating power.
Curious about what the heck is going on in your local real estate market? I get this question at least once a day. Let's chat about it!
π©πΌβπΎ Until next time!
Audrey Krafft, Sonoma Real Estate Agent
DRE 02208035 | 707-853-4563
audrey.krafft@compass.com
Compass Sonoma Valley