Inna Lehman here with Lehman Properties with your monthly Napa Housing Update. March'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 March 2017 was 161, down 15% from last year and down 1% from February The median listing price continues to soar year over year, at approximately $865,000 in March 2017 vs. $771,500 last March, though is down month over month, at roughly $40,000 lower than February.
Home sales increased 43% from last year, based on the number of units sold in March, and have increased an astounding 146% from last month. The dramatic increase in sales between February and March generally indicates the beginning of the Spring selling season. The median sale price increased to $694,500 from $620,000 last month, and $617,500 last year.
As you can see, the Napa market continues to grown and Napa remains a very "hot" market. Prices have been steadily increasing and we expect this trend to continue into the summer months. As always, though, 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 April's Housing Update!
Inna V. Lehman