Sotheby's Wine Country 2021 Wealth Outlook

A. BRADLEY NELSON

Chief Marketing Officer Sotheby's International Realty

AVIEWFROM WINECOUNTRY The past year has been unprecedented on many fronts, including unexpected shifts in housing demand. Here in Wine Country, the luxury market was fueled by work from home buyers from urban centers who transformed vacation homes into primary residences. This change mirrors one of the universal trends explored in this report.

RECENTMARKETMOVERS

While the value of what defines a ?luxury?property can vary widely around the world (the most expensive home sold in the USlast year was a US$165million mansion in Los Angles, Calif.), in Wine Country the benchmark price is generally accepted to be US$3million or more. Bay Area Real Estate Information Services reported that 2020 sales of luxury homes in Napa County and Sonoma County combined totaled US$798 million. Napa County recorded US$431million in luxury sales volume, while Sonoma County trailed slightly with US$367 million in sales.

Napa Valley, Sonoma Valley, and Healdsburg continue to be desirable luxury neighborhoods as well as world-class vineyard destinations, with all three locations claiming substantial sales volume increases in 2020 over 2019.

Among the most expensive sales in Wine Country were an expansive estate in Napa that sold for more than US$15million, and a US$15.7 million hilltop home in Sonoma that sold at full price in less than one month.

Despite such a robust luxury market in 2020, there are still many attractive opportunities in Wine Country. As of January 2021, 6.2 months of US$3+ million inventory was available in Sonoma and Napa Counties. We invite you to explore them all at sothebysrealty.com.

JONATHAN SOH

20 20 SIGNIFICANT SALE THE AERIE ESTATE

VP & Brokerage Manager Sotheby's International Realty Wine Country 707.935.2203| Jonathan.Soh@SothebysRealty.com

Sonoma, CA $14,750,0 0 0 Beautifully sited in the Sonoma foothills, the Aerie Estate boasts a main house with exposed steel trusses, a floor-to-ceiling glass wall onto a patio, and a vanishing-edge pool. A cleverly designed guest house and a party barn complete the property.

Increase in sales of luxury homes in Napa County and Sonoma County combined per BAREIS.

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