Inna Lehman here with Lehman Properties with October 2015's Napa Valley Housing Update.
In October the average home sale price was $647,500, the month before it was $620,000 and this time last year it was $535,000...so as you can see the average home sale price is on the rise.
The average days on the market for a home to sell is currently 92 (up from last month's average 87 days) and in the month of October we had 70 total home sales, with 388 new homes listed. What does this mean? Well, if you're a buyer you still have plenty of options to choose from and may still be able to take advantage of low interest rates. For Sellers, the upward trend in the market means the average home price is growing and it is still a good time to sell.
Despite the growth in median price, with interest rates still at all time lows and a lot of new financing options coming to the market, it is still very affordable to buy with low down payments.
I hope you have found this information helpful and if you are looking at buyer or selling please call or text me at 415-279-2222 or you can email me anytime as well at firstname.lastname@example.org.
Have an amazing day and I will see you next month with November's Housing Update!