Dallas Lehman here with Lehman Properties with your monthly Napa County Housing Update.
The number of active listings in October this year was 331, down 19% from last year and 14% from last month.The median listing price shot up year over year, at approximately $999,000 in October 2016 vs. $895,000 last October.
Home sales increased 54% from last month, based on the number of units sold in October, but is down 17% year over year. With Napa being a small market, these percentages often seem to be a greater swing vs. looking at actual numbers of homes sold (109 in October 2016 vs. 132 in October 2015. The median sale price decreased to $620,000 from $655,00 last year, and is down from $648,900 in September, though these are not drastic changes overall.
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 November's Housing Update!