Is 2025 your year to Sell?
January 6th, 2025
As we move past the holiday season, it’s the perfect time to turn our focus to the year to come. If selling your home is on your mind for 2025, understanding recent market trends can provide valuable insights to help you plan and position your property for success.
There are many factors to consider when it comes to selling your home:
What’s the right asking price?
Is there a perfect time of year to sell?
Should you invest in inspections before listing?
These are all critical questions that can impact how quickly your home sells and the final price it garners. To provide some local insights, let’s take a closer look at two key metrics from the past year in Sonoma County: Average Days on Market (DOM) and Sold Price as a Percentage of the Original List Price (SP/Orig LP%).
Average Days on Market (DOM)
The orange bars in the graph highlight how long homes stayed on the market each month in 2024. January (70 days ) and December (66 days ) saw the highest average DOM, 24% higher than the 2024 average (55 days ), reflecting a slower market, likely influenced by holiday seasonality.
However, as the year progressed, homes started selling faster, particularly from May through July where the average DOM dropped significantly to 44 days.
Another notable trend from October through December 2024, we saw a 13.2% increase in Days on Market compared to the same months in 2023. This could be attributed to the election year and the uncertainty of the months ahead, but what this decline highlights is the importance of thoroughly preparing your home to stand out and sell effectively during the winter months.
Sold Price vs. Original List Price (SP/Orig LP%)
The red line on the graph represents how close homes sold to their original asking price. In 2024, sellers consistently secured an average of about 95% of their listing price—a solid figure.
The peak occurred in March and April when homes sold for an impressive 99% of their asking price, likely driven by the energy of the spring market and buyers aligning their 2024 goals.
Again, as we saw with Days on Market, from October through December of 2024 there was a 1% decline in the Sold-to-Original List Price % compared to 2023. This slight market dip toward the end of the year underscores the importance of pricing your home competitively from the outset.
Key Takeaways
Timing Matters: If you're planning to sell your home, keep in mind that the market typically picks up mid-year. However, with the right preparation, your home can sell at any time of year.
Pricing is Key: A well-priced home that aligns with current market conditions and local demand will attract serious buyers quickly, helping you avoid price reductions and maximize your final sale price.
How to Prepare Your Home and Maximize Seller Success
As the market continues to evolve, making strategic updates and presenting your
home in the best light can help you stand out.
Pre-Listing Inspections: Learn as much as you can about your home's potential issues and address them yourself to avoid losing a buyer over unexpected discoveries.
Marketing: Exposure to a target market, along with your local area, can accelerate your home sale.
Professional Photography: High-quality photography captures your home in its best light, attracting more potential buyers and helping your listing stand out.
Staging: If your home is vacant, consider staging! Staging enables you to highlight your home's best features and allows buyers to envision themselves living there while making each room aesthetically pleasing.