Dallas Lehman here with Lehman Properties with your monthly Napa County Housing Update. February's sales numbers are out, so let's take a look at how the Napa Real Estate Market did!
The number of active listings in February 2017 was 124, up 6% from last year and down 4% from January. The median listing price continues to soar year over year, at approximately $907,000 in February 2017 vs. $799,000 last February.
Home sales decreased 39% from last month, based on the number of units sold in January, and have decreased 11% from last month. These numbers might seem drastic, but given that February is a short, winter month with historically low sales, it tends to skew the data (for example, last February 28 units were sold vs. 25 units in February 2017). The median sale price increased to $646,000 from $629,000 last month, and is comparable to last year ($650,000).
It is always important for us to look at the big picture when analyzing current Real Estate markets. Despite current speculation, interest rates continue to remain low, and with continued 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 707-219-8474 or email me anytime at firstname.lastname@example.org.
Have an amazing day and I will see you next month with March's Housing Update!