Market Report
March 2023 Copyright by KW Advisors 2023
What’syourhome reallyworthintoday’s market?
That's really the question you should be asking yourself.
Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that sets the value of your home.
So, do you know what your home is worth in today's market?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
IsItReallyBetterToRent ThanToOwnaHomeRight Now?
You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on.
A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, the methodology behind one of those reports says that renting is the smarter financial option because of the opportunity to invest money elsewhere. It assumes renters take the money they’d spend on costs tied to buying a home and put it in an investment portfolio.
But here’s the thing – most people who rent aren’t making those investments. Ken Johnson, Co-Author of the BH&J National Price-toRent Index, explains:
“One of the difficulties with the rent and reinvest model is many people . . . simply rent and spend the difference. . . . That’s wealth destroying. ”
So, before you renew your rental agreement, think about the opportunity to build wealth that homeownership provides.
Bottom Line
If you’re unsure whether to continue renting or to buy a home, work with a real estate advisor who can help you make the best decision.
The reason homeownership is one of the best investments you can make is the wealth it helps you build. That’s why there’s a significant difference between the net worth of the average homeowner and the average renter (see graph below): Source: Keeping Current Matters
Program Cheat Sheet
NapaCounty
What's in the Napa County data?
In February, Napa County had 172 single-family homes for sale with 65 new listings, providing 2 months of inventory. The median sale price for single-family homes increased to $835k. The median overbid remained steady at 100%.
For condos and townhomes, there were 17 units for sale with 9 new listings providing the market with 1.7 months of inventory. The median sale price for condos increased to $775k. The median overbid decreased slightly to 97.4%. The average time on the market was 71 days.
SFH Single-Family Homes
65 New Listings
41 Sold Listings
2 Months of Inventory
$835K Median Sale Price
100% Median Sale vs List
52 Avg Days on Market
This data was sourced from InfoSparks on March 3rd, 2023 and includes all singlefamily homes, condos and townhomes in the displayed California Area above from February 2022 to February 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
CONDO
Condo & Townhomes
9 New Listings
2 Sold Listings
1.7 Months of Inventory
$775K Median Sale Price
97.4% Median Sale vs List
71 Avg Days on Market
y y
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $985k last February 2022, to $835k as of February 2023
Condos & Townhomes
The median sales price has increased from $667k last February 2022, to $775k as of February 2023
Overbids
Single-Family Homes
The overbid percentage has remained the same from 100% last February 2022, to 100% a year later.
Condos & Townhomes
The overbid percentage has decreased from 100% last February 2022, to 97 4% a year later
Single-Family Homes
The average days on market went down from 55 days last February 2022, to 52 days as of February 2023
Condos & Townhomes
The average days on market went up from 52 days in February 2022, to 71 days as of February 2023.
February2022March2022April2023May2023June2022July2022August2022September2022October2022November2022December2022January2023February2023 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 80 60 40 20 0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
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206 Sold Listings
$553K
Median Sale Price
69
Avg Days on Market
This data was sourced from InfoSparks on March 3rd, 2023 and includes all singlefamily homes, condos and townhomes in the displayed California Area above from February 2022 to February 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
y Homes
26 New Listings
23 Sold Listings
1.2 Months of Inventory
$295K Median Sale Price
98.8% Median Sale vs List
66 Avg Days on Market
CONDO Condo & Townhomes
March2022 April2023 May2023 June2022 July2022August2022September2022October2022November2022December2022January2023February2023 March2022 April2023 May2023 June2022 July2022August2022September2022October2022November2022December2022January2023February2023 olano FEBRUARY 2022 - FEBRUARY 2023 -Family Homes 2 months, year-over-year. os & Townhomes 2 months, year-over-year LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $605k last February 2022, to $553k as of February 2023
Condos & Townhomes
The median sales price has decreased from $364k last February 2022, to $295k as of February 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 101.6% last February 2022, to 100% a year later.
Condos & Townhomes
The overbid percentage has decreased from 101 7% last February 2022, to 98 8% a year later
Single-Family Homes
The average days on market went up from 31 days last February 2022, to 69 days as of February 2023
Condos & Townhomes
The average days on market went up from 32 days in February 2022, to 66 days as of February 2023.
February2022March2022April2023May2023June2022July2022August2022September2022October2022November2022December2022January2023February2023 $750,000 $500,000 $250,000 $0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 75 50 25 0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
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Sonoma
This data was sourced from InfoSparks on March 3rd, 2023 and includes all singlefamily homes, condos and townhomes in the displayed California Area above from February 2022 to February 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
22 New Listings
30 Sold Listings
0.5 Months of Inventory
$460K Median Sale Price
100% Median Sale vs List
33 Avg Days on Market
CONDO Condo & Townhomes
Single-Family
Last 12 months, year-over-year.
Condos
Last 12 months, year-over-year
February2022 March2022 April2023 May2023 June2022 July2022August2022September2022October2022November2022December2022January2023February2023 2000 1500 1000 500 0 February2022 March2022 April2023 May2023 June2022 July2022August2022September2022October2022November2022December2022January2023February2023 250 200 150 100 50 0 Sonoma FEBRUARY 2022 - FEBRUARY 2023
Homes
&
Townhomes
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
The median sales price has decreased from $819k last February 2022, to $784k as of February 2023
Condos
The median sales price has decreased from $465k last February 2022, to $460k as of February 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 102% last February 2022, to 99.6% a year later.
Condos & Townhomes
The overbid percentage has decreased from 103 3% last February 2022, vs 0% a year later
The average days on market went up from 34 days last February 2022, to 69 days as of February 2023
The average days on market went up from 34 days in February 2022, to 33 days as of February 2023.
February2022March2022April2023May2023June2022July2022August2022September2022October2022November2022December2022January2023February2023 $1,000,000 $750,000 $500,000 $250,000 $0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 75 50 25 0 February2022March2022April2023May2023June2022 July2022August2022September2022October2022November2022December2022January2023February2023 125% 100% 75% 50% 25% 0%
& Townhomes
Single-Family Homes
AVGDays OntheMarket
Condos & Townhomes
Single-Family Homes
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1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 SanFrancisco 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 PeninsulaEstates 505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto : 951 California Boulevard, Napa, CA 94559 NapaValley
