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Napa Valley Real Estate ReportOctober 2019
*Rolling 3-month average compared to same period prior year
Napa Valley Real Estate Report
January 2020
Decade & Year in Review
In the past decade, Napa median single family home sold prices recovered from a devastating decline in the financial and housing crisis to rise 97.8% from $371,333 to $734,667. Condo/loft/TIC sold prices rose 119%, from $242,000 to $529,667.
2009 mortgage rates were just above 5%, compared to 3.5% today.
Single family home inventory was higher – 5.7 months for single family homes vs. 1.9 months today. Undergoing an even greater decline, condo/loft/TIC’s inventory fell from 14.4 months in 2009 to just 1.8 months today.
The closing year of the decade, 2019, saw continued median sold price growth: 2.8% and 11%, respectively, for single family home and condo/loft/TIC’s.
Today, the question everyone is asking: what to expect in 2020? All signs remain strong that real estate prices will continue to rise in because of the following factors: low interest rates, low inventory, strong buyer demand and a strong job market. Until one of these factors changes, the equation has only one possible outcome: higher prices.
Summary of the Numbers -January 2020*
Single Family Residences
(SFR)% Change
Year-over-YearCondo/
Townhomes% Change
Year-over-YearMedian Sales Price $734,667 2.8% $529,667 11%Average Days on Market 80 26% 88 30%Months of Inventory 2.8 -2.3% 2.3 -19%% of List Price Received 93% 2.6% 96% -1.0%New Listings (#) 39 -30% 9 44%
Homes Sold (#) 63 0.5% 13 90%
© Keller Williams Napa Valley 2020
$533
,000
$360
,000
$413
,000 $5
01,0
00
$515
,000
$495
,000
$460
,000
$390
,000
$445
,000
$415
,000
$355
,000 $4
28,0
00
$437
,000
$400
,000
$52
5,0
00
$385
,000
$548
,000
$425
,000
$455
,000
$643
,000
$415
,000
$535
,000
$495
,000
$404
,000
$535
,000
$440
,000
$495
,000
$548
,000
$415
,000
$548
,000
$400
,000
$547
,000
$385
,000
$436
,000
$637
,000
$464
,000
$488
,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$607
,000
$705
,000
$632
,000 $7
00,0
00
$687
,000
$650
,000 $7
22,0
00
$712
,000
$685
,000
$670
,000
$705
,000
$675
,000
$700
,000
$679
,000
$731
,000
$696
,000
$715
,000
$717
,000
$750
,000
$720
,000
$729
,000
$680
,000
$705
,000
$752
,000
$686
,000
$675
,000
$639
,000
$793
,000
$725
,000
$740
,000
$784
,000
$692
,000
$736
,000
$772
,000
$735
,000
$699
,000 $7
70,0
00
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
MEDIAN SALES PRICE
Single Family Homes
*Rolling 3-month average compared to same period prior year
Condo/Townhome Sold Prices are up 11% year-on-year*
Single Family Sold Prices are up 2.8% year-on-year*
Condo/Townhomes
© Keller Williams Napa Valley 2020
69
88
99
87
74 75
68
60
73
59
74
65
74
86
75
65
79
48
46
57
56
54
62 63 65
10
2
66
90
85
52
62 61
70
91
83
74
83
0
25
50
75
100
125
150
AVERAGE DAYS ON MARKET
Single Family Homes
Condo/Townhomes
Days on Market is up 26% year-on-year*
*Rolling 3-month average compared to same period prior year
Days on Market is up 30% year-on-year*
60
48
70
37
77
59
44 4
9
34
58
86
66
45
60
43
55
36
47
43
64
49
46
57
68
78
12
3
55
14
0
65
54
65
42
90
41
82
65
11
7
0
25
50
75
100
125
150
© Keller Williams Napa Valley 2020
1.6
1.6 1
.8 1.9
1.6
0.6 0
.8
2.1
1.7 2
0.9
0.8 1
0.6
1.9
1.5
1.2
1.9
1.5
2.4
1.6
1.6
2.2
3.1 3
.3
3.3
8.3
3.4
6.8
1.9
3.8
3
4.1
5.7
2.6
2.1 2
.3
0
1
2
3
4
5
6
7
8
9
10
2.5 2.6
3.5
1.5
2.8
1.9
1.8 2.
2 2.5
2.4
2.9
2.3
1.6
1.6 1.7
2.2
2
2.4
2.2 2.
4
2.3
3.4
2.8 2.9 3
4.3
3.4 3.5
2.7
2.7
2.4 2.6
3.7
2.5
2.4
4
2.1
0
1
2
3
4
5
6
7
8
9
10
Single Family Homes
Condo/Townhomes
MONTHS OF INVENTORY
© Keller Williams Napa Valley 2020
Condo/Townhome inventory is down 19%*
Single Family Home Inventory is down 2.3%*
*Rolling 3-month average compared to same period prior year
99
%
10
1%
10
0%
10
0%
97
%
10
1%
99
%
97
%
10
0%
95
%
10
0%
99
%
99
%
98
% 99
%
99
%
98
%
98
% 99
%
95
%
97
% 98
%
98
%
97
%
96
%
90
%
10
1%
90
%
94
%
99
%
96
% 97
%
96
%
99
%
95
%
95
%
98
%
80
85
90
95
100
105
110
95
%
94
%
94
%
96
% 97
%
97
%
97%
97
%
96
%
96
%
95
%
94
%
97
%
95
%
97
%
94
%
96
% 97
%
99
%
97
% 98
%
95
%
94
% 95
%
82%
91
%
97
%
91
%
95
%
98
%
92
%
95%
89
%
92
%
92
%
92
%
94
%
80
85
90
95
100
105
110
MEDIAN PERCENT OF LIST PRICE RECEIVED
Single Family Homes
Condo/Townhomes
December sold prices were 94% of list price*
December sold prices were 98% of list price*
*Rolling 3-month average compared to same period prior year© Keller Williams Napa Valley 2020
0
14
10
16
16
10
15
15
11
17
3
8
11
8
13
11
16
11
10
19
16
11
5
8
5
10 1
1
9
12 1
3
22
6
14
23
14
7
55 56
91
01
71
59
10 1
11
01
26
7 78
12
91
39
12
14
97
46
38
41
29
12
97
13
15
10
0
5
10
15
20
25
30
35
40
41
72
70
85
10
1
10
2
10
0
87
10
1
73 75
67
33
64
71
92 9
7
11
0
11
0
96
96
93
82
43 41
64
60
96
11
4
11
3
91
81
10
1
83
71
31
14
55
49
36
86
58
84 8
9
78
71
68
54
65
72
59
54
53 5
9
69
81
77
88
61
73
64
50
33
47
46
67
81
88
87
62
84 85
45
58
0
20
40
60
80
100
120
140
160
180
200
The information contained in this report is taken from a variety of sources including BAREIS MLS, the Federal Reserve Bank of San Francisco, the Federal Reserve System, the Bureau of Labor Statistics, The Conference Board, U.S. Department of Commerce and others. The data may have errors, omissions and be subject to revisions and is not warranted. It is deemed reliable but is not guaranteed. Questions may be directed to Keller Williams San Francisco | 707.492.3346 | CalDRE 01995149 | © Keller Williams Napa Valley 2020
NEW LISTINGS & NUMBER OF SALES
Condo/Townhomes:
Single Family Homes:
*Rolling 3-month average compared to same period prior year
New Single Family Home listings are down 30%. Sales are up 0.5%*
New Condo/Townhome listings are up 44%. Sales are up 90%*
