The Santa Rosa, CA metro area housing market in February 2025 presents a dynamic landscape characterized by notable increases in both sales and listings, alongside a few areas of decline. The Median Sales Price has risen to $817,500, marking a 6.7% increase year-over-year (YoY). This upward trend in sales prices is mirrored by the Median List Price, which has climbed to $855,400, reflecting a 7.6% YoY increase.

Despite the overall rise in prices, the median Price Per Square Foot has decreased by 1.3% YoY, now standing at $472.18. Conversely, the Median List Price per square foot has increased by 4.7% YoY, reaching $509.67. This divergence suggests a potential shift in buyer preferences or market dynamics, where larger or more premium properties might be commanding higher list prices.

The volume of Homes Sold has surged by 15.0% YoY, with 253 Homes Sold in February 2025. Pending Sales have also seen a significant increase of 24.8% YoY, totaling 327. This robust activity is further supported by a 25.8% YoY rise in New Listings, which now number 414. Inventory levels have expanded by 26.3% YoY, reaching 898 homes, contributing to a Months of Supply figure of 3.5, up 30.0% YoY. These figures indicate a more balanced market, with increased availability potentially easing some pressure on buyers.

The Median Days on Market have slightly increased by 3.0% YoY to 41 days, suggesting that while homes are selling, they may be taking slightly longer to do so compared to the previous year. The average sale to list ratio has seen a minor decline of 0.2% YoY, now at 99.5%, indicating that homes are selling very close to their list prices. However, the percentage of Homes Sold above list price has decreased by 3.8% YoY to 34.4%, which might reflect a cooling in competitive bidding scenarios.

Price Drops have become more common, with a 11.4% YoY increase, now affecting 24.6% of listings. This could be indicative of sellers adjusting expectations in response to the increased inventory and longer market times. Additionally, the percentage of homes going off market in two weeks has risen by 7.0% YoY to 41.0%, suggesting that while some properties are lingering, others are still moving quickly, possibly due to strategic pricing or desirable features.

Overall, the Santa Rosa housing market in February 2025 is characterized by rising prices and increased activity, with a notable expansion in inventory and New Listings. While some metrics suggest a slight cooling in certain competitive aspects, the market remains active and dynamic, offering opportunities for both buyers and sellers.