Napa County Real Estate Market Report – August 2018

Fortune Magazine’s recent article “The End is Near for the Economic Boom” is representative of the cautionary tone of a growing number of financial advisors, investors and economists that the expansionary economy we’ve had since 2009 is nearing its end.

Facebook’s dramatic 20% share price one-day drop (it’s still down over 17%) and Netflix’s 18% share price decrease may have injected further buyer caution into a market where prices were already showing signs of leveling off.

Napa’s three-month rolling median home sales prices are up modestly over 2017 while condo prices are considerably higher.

Single Family Homes:
The three-month rolling average median sales price of $712,333 is up 4.3% over last year’s.

Year-to-date, new listings are down 0.2% while sales are down 7%.

July’s inventory of 3.2 months is virtually the same level as in 2017.

The median percent of list price received was 95%.

Condo/Townhomes:
The three-month rolling average median sales price of $517,333 is up 15% over last year’s. Note that there are 79 condo sales year-to-date so this might indicate a higher-priced mix than last year’s.

Year-to-date, new listings are down 3.7% while sales are down 6%.

July’s inventory of 2.5 months is 67% higher than in 2017.

The median percent of list price received was 95%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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