Market Report Napa County August 2022
IN TODAY'S MARKET
What's your home actually worth That really is the question to ask yourself. Our market is incredibly diverse and changes rapidly. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors is. At the end of the day, the current market sets your homes's value. So, do you know what your home is worth in today's market? I can help Contact me for a confidential, no obligation, assessment of your home's value.
August
Buying a Home May Make More Financial Sense Than Renting One 2022 If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years rental prices have skyrocketed as well. As a recent article from realtor.com says: “The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.” That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you. READ MORE
Napa
In Napa, the median sold price for single-family homes in July slightly increased monthover-month to $942,500. The number of homes sold decreased to 26 and the number of new listings decreased to 87. The number of condo & townhouses sales increased monthover-month to $810,000 with 5 units sold and 10 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%.
What's in the Napa data?
There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
SINGLE FAMILY HOMES 87 New Listings 3.7 Months of Inventory $943K Median Sale Price 98.7% Median Sale vs List 37 Avg Days on Market 26 Sold Listings This data s sourced from InfoSparks for monthy data showing 07/2021 to 07/2022 Data may include prelmnary data and may vary from the time this data was gathered Al data s deemed reliable but not guaranteed Questions may be directed to KW Advisors 415 483 9285 DRE# 01995149 | DRE# 01906450 Copyrght KW Advisors 2022 Each Office is independently owned and operated
CONDOS & TOWNHOMESNapa at a glance 10 New Listings 1.7 Months of Inventory $810K Median Sale Price 100% Median Sale vs List 68 Avg Days on Market 5 Sold Listings
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 750 500 250 0 SINGLE FAMILY HOMES Last 12 months, year-over-year CONDOS Last 12 months, year over year LISTINGS FOR SALE VS SOLD LISTINGS NAPA JULY 2021 JULY 2022 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 75 50 25 0
A V G D A Y S O N M A R K E T July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 O V E R B I D S M E D I A N S O L D P R I C E Condos & Townhomes The median sold price doubled from $475k last July 2021 to $810k a year later NAPA COUNTY AUGUST 2022 Single Family Homes The median sold price has slightly increased from $925k last year's July to $943k this year July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 100 75 50 25 0 Condos & Townhomes While it increased once more compared to the past few months, it is still incomparable from last year's 83 days record to 68 days a year later. Single Family Homes The average days on the market shows a promising decrease from 48 days of July 2021 to 37 days this July 2022 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Condos & Townhomes The overbid percentage slightly decreased from 100 1% record last year, to 100% this year's July Single Family Homes The overbid percentage has goes down from 100 1% record last year's July, to 98 7% this year
Napa Valley 951 California Boulevard, Napa, CA 94559 San Francisco 1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 Peninsula Estates 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 Palo Alto 505 Hamilton Ave Suite #100, Palo Alto, CA 94301
