Two economic issues currently in the U.S. may impact the Napa housing market. The first is the mounting trade wars with China, Europe, Mexico and Canada. The second is rising interest rates (2 more are planned by the Federal Reserve Bank but with inflation rising there is talk of a third), tightening monetary policy and the converging yield curve, the latter of which has been a recession indicator in the past and is receiving a lot of press attention.

In Napa, at this point, housing sales are still strong in terms of price, but there have been fewer single family home sales than in the past four years. New listings are fewer than in any of the previous 10 years.

Single Family Homes:

The three-month rolling average median sales price of $728,333 is up 6.1% over last year’s.

Year-to-date, new listings are down 3.4% while sales are down 6.5%.

June’s inventory of 2.2 months is 1.5% lower than in 2017.

The median percent of list price received was 99% in June.

Condo/Townhomes:

The three-month rolling average median sales price of $485,333 is down 1% over last year’s.

Year-to-date, new listings are down 17% while sales are down 11%.

June’s inventory of 1.6 months is double what it was in June, 2017.

The median percent of list price received was 99% in June.