MarketReport Market Report for Napa County February 2023 Copyright by KW Advisors 2023
What’syourhome reallyworthin today’smarket?
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.
LowerMortgageRatesAre BringingBuyersBacktothe Market
As mortgage rates rose last year, activity in the housing market slowed down. As a result, homes started seeing fewer offers and staying on the market for longer. That meant some homeowners decided to pause on selling.
Now, however, rates are beginning to come down—and buyers are starting to re-enter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows an increase of 7% more mortgage applications, as compared to the week before.
Napa County
What's in the Napa County data?
Napa County's single-family housing market saw an increase to a $847K median sold price, with 32 units sold and 56 new listings. The condo & townhome market has declined month-over-month, with 3 new listings and 3 sales, totaling approximately $510K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.
3 New Listings
3 Sold Listings
0.8 Months of Inventory
$510K Median Sale Price
98% Median Sale vs List
43 Avg Days on Market
CONDO Condo & Townhomes
2023September2023October2023November2023December2023January2023 2023September2023October2023November2023December2023January2023 SOLD LISTINGS
Median SalesPrice
Single Family Homes
The median sales price has increased from $835k last January 2022, to $847k as of January 2023
The median sales price has decreased from $555k last January 2022, to $510k as of January 2023
Overbids
Single Family Homes
The overbid percentage has decreased from 100% last January 2022, to 98.5% a year later.
Condos & Townhomes
The overbid percentage has decreased from 100% last January 2022, to 98% a year later
Single
The average days on market went up from 52 days last January 2022, to 75 days as of January 2023
The average days on market went down from 66 days in January 2022, to 43 days as of January 2023
January2022February2022March2022April2023May2023June2022July2023August2023September2023October2023November2023December2023January2023 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 January2022February2022March2022April2023May2023June2022July2023August2023September2023October2023November2023December2023January2023 75 50 25 0 January2022February2022March2022April2023May2023June2022 July2023August2023September2023October2023November2023December2023January2023 125% 100% 75% 50% 25% 0%
Condos & Townhomes
AVGDays OntheMarket
Condos & Townhomes
Family Homes
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
