October Market Report - Napa

MarketReport

Market Report for Napa County

What’syourhome reallyworthin today’smarket?

That's really the question you should be asking 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 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.

TwoQuestionsEvery HomebuyerShouldAsk ThemselvesRightNow

Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people, who want to purchase a home, priced out of the market, and others wondering if now is the right time to buy. But this rise in borrowing cost shows no signs of letting up soon.

Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise George Ratiu, Senior Economist and Manager of Economic Research at realtor com, says this:

“While even two months ago rates above 7% may have seemed unthinkable, at the current pace, we can expect rates to surpass that level in the next three months ”

So, is now the right time to buy a home? Anyone thinking about buying a home today should ask these two questions.

Napa

What's in the Napa data?

In Napa the median sold price for single-family homes in September increased month-over-month to $1 million. The number of homes sold decreased to 80, and the number of new listings decreased to 74. The number of condo and townhouse units sold increased to $630 thousand month-over-month with 12 units sold and 8 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand for homes continues to rise, leading to the rise in sales prices, and creating an imbalance between supply and demand.

SFH

Family Homes

2.6

Median Sale vs List

Listings

$1M

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos and townhomes in the California Area from September 2021 to September 2022. 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 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2022. Each Office is independently owned and operated.

Single Family Homes

Condos & Townhomes

Median SalesPrice

Single Family Homes

The median sales price has increased from $875k last year's September to $1m this year

Condos & Townhomes

The median sales price increased from $503k last September 2021 to $630k a year later.

December2021January2022

Overbids

Single Family Homes

The overbid percentage has remain the same from 100% record last year's September to 100% this year.

Condos & Townhomes

The overbid percentage has remain the same from 100% record last year's September to 100% this year

February2022March2022April2022May2022June2022July2022August2022September2022

AVGDays OntheMarket

Single Family Homes

The average days on the market has decreased from 37 days of September 2021 to 30 days this September 2022.

Condos & Townhomes

Huge difference is seen on the average days on the Market as the 81 days from last year's becomes 31 days only a year later