Napa County November 2023 Market Report

November 2023

Copyright by KW Advisors 2023

What’s your home really worth in today’s market?

That's 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. 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?

I can help...

Contact me for a confidential, no obligation assessment of your home's value.

Reasons To Sell Your House Before the New Year

As the year winds down, you may have decided it’s time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year.

Get One Step Ahead of Other Sellers Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and sometimes deprioritize selling their house until the start of the new year when their schedules and social calendars calm down. But that gives you an opportunity to get one step ahead.

Selling now, while other homeowners may hold off until after the holidays, can help you get a leg up on your competition. Start the process with a real estate agent today so you can get your house on the market before your neighbors do.

Get Your House in Front of Eager Buyers Even though the supply of homes for sale did grow compared to last year, it’s still low. That means there aren’t enough homes on the market today. While some buyers may also delay their plans to move until January, others will still need to move for personal reasons or because something in their life has changed.

Those buyers are still going to be active later this year and will be seriously motivated to make their move happen because they need to.

Unfortunately, the challenge they’ll face is a shortage of available inventory to meet their needs. A recent article from Investopedia says: “. . . if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy. Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

Use Your Equity To Fuel Your Move Keep in mind that homeowners today have record amounts of equity.

According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $290,000. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.

And as you weigh the reasons to sell before year-end, it’s important to remember the reasons that sparked your desire to move in the first place. Maybe it’s time for a new home in a location that suits you better, one that offers the perfect space for you and your loved ones, or maybe your needs have evolved over time. A local real estate agent can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.

Source: Keeping Current Matters

WHY YOU NEED A HOME WARRANTY There are many compelling reasons to join American Home Shield.

Simply put — a home warranty protects your budget and provides peace of mind.

HOME WARRANTY BENEFITS Here are just a few of the advantages of having coverage:

1

Budget protection when systems and appliances like your A/C and fridge inevitably stop working.

2

Peace of mind because you have a plan in place and know exactly who to call when something goes wrong.

3

The time-saving convenience of not having to search for someone to get the job done.

We do that for you.

4

With our 30-day workmanship guarantee, if you have an issue with your completed repair within 30 days of service, we’ll send a contractor back out for free.

READY TO GET STARTED? Contact me, your Real Estate Expert, for support and to learn more about AHS. CLICK HERE TO LEARN MORE

F FIVE Designer E Tips T Will dark cabinets make a kitchen too dark?

on making moody shades work

Five Designe Tips Keep the rest of your kitchen space light and bright

Kitchens with ample natural light are more suitable for dark cabinet colors. If your kitchen lacks this, don't avoid dark colors entirely. Instead, focus on adding light elements elsewhere.

Strike the right balance with lightning

Achieving balance in room design is essential, especially when combining strikingly colored cabinets with a mix of

Consider the size of your space

In a spacious, well-lit kitchen, dark cabinets add

Favor glass and reflective surfaces

Opt for glass-fronted cabinets and reflective finishes to

Adorn the space thoughtfully to lighten the finish

In Kitchens with bold cabinet finishes, decor plays a crucial

well-considered kitchen lighting.

sophistication and coziness without crowding the space. Yet, in a smaller kitchen, they can absorb light and create a cramped feel.

brighten up the space effectively.

role. Open shelving and glass cabinet doors to break the visual heaviness of dark cabinets and create contrast with lighter-colored items.

Want to know how Home Concierge can help with your listing?

Contact me today!

CLICK HERE TO LEARN MORE

Source : https://www.homesandgardens.com/kitchens/will-dark-cabinets-make-a-kitchen-feel-too-dark

Tips to Harden Your Home During Wildfires Source: Cal Fire

ROOF

WINDOWS

Build your roof or re-roof with materials such as composition, metal, clay, or tile. Remove any vegetative debris from the roof.

Install dual-paned windows with one pane of tempered glass to reduce the chance of breakage in a fire.

VENTS

WALLS

Remove all openings with 1/16-inch to 1/4-inch metal mesh. Do not use fiberglass or plastic mesh because they can melt and burn.

Use ignition-resistant materials, such as stucco, fiber cement, wall siding, fire retardant, treated wood, etc.

EAVES + SOFFITS

DECKS

Eaves should be boxed in and protected with ignition-resistant or non-combustible materials.

Create an ember-resistant zone around and under all decks and clear debris from under your deck.

FENCES

CHIMNEY

Separate your fences from your house or upgrade the last 5 feet of the fence to a non-combustible material.

Close the fireplace during fire season when the chimney is not being used.

GUTTERS

PATIO COVER

Keep rain gutters clear or enclose rain gutters to prevent accumulation of plant debris.

Use the same ignitionresistant materials for patio coverings as a roof.

DRIVEWAY

DECKS

Driveways should be built and maintained in accordance with state and local codes to allow fire and emergency vehicles to reach your home. Consider maintaining access roads with a minimum of 10 feet of clearance on either side, allowing for two-way traffic.

Have a fire extinguisher and tools such as a shovel, rake, bucket, and hose available for fire emergencies.

IS YOUR HOMEOWNER’S INSURANCE COVERAGE UP TO DATE? I CAN CONNECT YOU WITH WITH MY INSURANCE SPECIALIST AT GREYSTONE. CALL ME TODAY!

Brought To You By:

Click here for your home warranty needs

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Napa County What's in the Napa County data?

There were 278 single-family homes for sale, providing 3.9 months of inventory. There were 50 new listings, and 83 homes sold at a median price of $1m. The median overbid percentage was at 100%, with an average of 54 days on the market.

There were 33 condo and townhome units for sale, providing 3.6 months of inventory. There were 16 new listings and 11 units sold at a median sale price of $736k. The median overbid percentage was at 97.5%, with an average of 46 days on the market.

SFH

Single-Family Homes

50

83

New Listings

Sold Listings

3.9

$1M

Months of Inventory

Median Sale Price

100%

54

Median Sale vs List

Avg Days on Market

The data, sourced from InfoSparks, includes all single-family homes, condos and townhomes in the California Area above from October 2022 to October 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01995149. Copyright KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated.

CONDO

Condo & Townhomes

16

11

New Listings

Sold Listings

3.6

$736K

Months of Inventory

Median Sale Price

97.5%

46

Median Sale vs List

Avg Days on Market

Napa OCTOBER 2022 - OCTOBER 2023

L I S T INGS FOR S A L E

S O L D LISTINGS

400

300

200

100

0

Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023

Jul 2023 Aug 2023 Sep 2023 Oct 2023

Single-Family Homes Last 12 months, year-over-year.

35 30 25 20 15 10 5 0

Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023

Condos & Townhomes Last 12 months, year-over-year.

Jul 2023 Aug 2023 Sep 2023 Oct 2023

Median Sales Price

$1,250,000

$1,000,000

Single-Family Homes

$750,000

The median sales price has increased from $975k last October 2022, to $1m as of October 2023.

$500,000

$250,000

Condos & Townhomes O ct 20 23

20 23

Se p

Au g

20 23

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

20 23

M ar 20 23

Ja n

Fe b

20 23

20 22

De c

N ov

O ct 20 22

20 22

$0

The median sales price has increased from $599k last October 2022, to $736k as of October 2023.

AVG Days On the Market

80

60

Single-Family Homes The average time spent on the market went up from 50 days last October 2022, to 54 days as of October 2023.

40

20

Condos & Townhomes

Back to Table of Contents

O ct 20 23

Se p

20 23

20 23 20 23

Au g

Ju l2 02 3

Ju n

20 23

20 23

M ay

20 22

40% 20%

O ct 20 23

20 23

Se p

20 23

Au g

Ju l2 02 3

20 23 Ju n

20 23

M ay

M ar 20 23

20 23

Fe b

Ap r2 02 3

0% Ja n

The overbid percentage has increased from 97% last October 2022, to 97.5% a year later.

60%

De c

Condos & Townhomes

80%

20 22

The overbid percentage has increased from 99.1% last October 2022, to 100% a year later.

100%

N ov

Single-Family Homes

The average time spent on the market went up from 44 days last October 2022, to 46 days as of October 2023.

120%

O ct 20 22

Overbids

Ap r2 02 3

M ar 20 23

20 23

Fe b

20 23 Ja n

20 22

De c

20 22

N ov

O ct 20 22

0

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

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