Seeing Value in the Napa Market

Since the middle of 2008, we have been seeing heightened activity in the Napa market. Year to year, the median and average prices have gone down, but the number of units has gone up.

In September of 2007, we had 69 closed transactions. In September of 2008, 104.

In October of 2007, we had 80 closed transactions. In October of 2008, 126.

In November of 2007, we had 76 closed transactions. In November of 2008, 90.

In December of 2007, we had 76 closed transactions. In December of 2008, 121.

In January of 2008, we had 50 closed transactions. In January of 2009, 68.

It seems the reduced median/average prices are encouraging buyers to commit. I've heard from a number of agents around the country that they've also seen an uptick in sales in their markets, despite what the media is telling everyone. Let's keep up our part of educating the prospective buyers that real estate is local!