Dallas Lehman here with Lehman Properties with your monthly Napa County Housing Update.
The number of active listings in June this year was 347, down 7% from both year over year (375 listings in June 2015), and month over month (374 listings in May 2016). Though a decrease in the summer months may seem unusual, given Napa's relatively small market, this statistic alone is not indicative of any predictable market trends. The median listing price increased year over year, to $999,000, up from $990,000 last June.
Home sales continue to trend upward, with a 31% increase in number of units sold in June vs. May, but the median sale price decreased to $619,000 (though is still up year over year).
It is always important for us to look at the big picture when analyzing current Real Estate markets. With interest rates continuing to remain low, and growth in property values year over year, there are costs and benefits for both sellers and buyers to weigh in a market like this.
I hope you have found this information useful. If you have any questions, or would like a free consultation to find out what your options are, please call or text me at 707-549-6919 or email me anytime at firstname.lastname@example.org.
Have an amazing day and I will see you next month with July's Housing Update!