a message from
Jonathan Soh
Vice President & Brokerage Manager As we reach the one-year anniversary of the historic wildfires which consumed the Wine Country region in 2017, there is both recovery and stabilization in the local real estate market. According to Bay Area Real Estate Information Services (BAREIS), the County of Napa rebounded with an increase of 18.5% in sales volume between Q3 2017 and Q3 2018, from $260M to $308M. At the same time, days on market in Napa County decreased 18.8%, from 117 days to 95 days, and average sales price increased 7%, from $1.01M to $1.08M. These increases are an indication of limited supply of primary residences and increased demand from second home buyers. No market is more indicative of this than St. Helena and Yountville, which saw a 62% increase in sales volume from $44M in Q3 2017 to $72M in Q3 2018 and a 62% increase in units sold from 26 units in Q3 2017 to 42 units in Q3 2018. St. Helena/Yountville also had the highest average sales price in the Wine Country Region in the third quarter of 2018, which was $1.7M. The city of Healdsburg also showed signs of recovery with a 12% increase in sales volume from $70M in Q3 2017 to $78M in Q3 2018 and a 13% increase in units sold from 53 units to 60 units. Healdsburg continues to be a very popular second home market. The cities of Santa Rosa and Napa, and the Sonoma Valley – all hardest hit by the fires - are showing signs of stabilization. After dramatic increases in sales volume and average sales price in the months following the firestorm, the city of Santa Rosa started to stabilize, showing a 6% decrease in sales volume in Q3 2017 versus Q3 2018 from $325M to $305M and a 7% increase in average sales price from $684K to $732K. The number of units sold decreased by 12% during this same period, from 474 properties sold in 2017 to 416 in 2018. The Sonoma Valley market showed a modest 2% increase in sales volume in the third quarter of 2018 versus the same time in 2017, from $124M to $127M, a 4% increase in average sales price to $1.1M and a 2% decrease in units sold from 113 to 111 units. sothebyshomes.com/winecountry
calbre
phone
1173646
jonathan.soh@sothebyshomes.com
707 935 2503
All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS) and represent the sale of single family homes. SIR CalBRE#: 899496