Napa Real Estate Market Report – August 2019

The current Napa real estate market is a story of price segments.

Prices have continued to rise in the under $750,000 market, with a year-on-year appreciation of 5.2%. From $750,000-$2,000,000 there is a 1.5% increase, but above $2,000,000 sold prices are down 3.1%.

Inventory is also stratified by price range: just 1.8 months for under $750,000; 2.9 months for $750,000 – $999,999; 6.9 months for $1,000,000-$1,999,999; and 16.6 months for $2,000,000+.

Simply put, the entry level market in Napa continues to be a strong sellers market, with low inventory and appreciating sold prices. The mid-level market, from $750,000 – $999,999, is also still a sellers market, but less so, with just 2.9 months of inventory; and the $1,000,000+ market is a different story, with 6.9 months inventory, and inventory levels and buyer leverage rising along with the price point.

Summary of the Numbers – August 2019* Single Family Residences (SFR) % Change         Year-over-Year Condo/ Townhomes % Change         Year-over-Year
Median Sales Price $711,333 0.8% $505,333 -2.3%
Average Days on Market 63 17% 58 15%
Months of Inventory 3.6 11% 3.1 65%
% of List Price Received 95% -2.1% 97% -0.7%
New Listings (#) 147 -1.6% 15 -15%
Homes Sold (#) 119 2.2% 12 -18%

*Rolling 3-month average compared to same period prior year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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