Remember from my July 18, 2009 post “Napa Valley Real Estate, a Tale of Two Times Two Markets“ was the number of distressed sales (in foreclosure, a short sale or a bank owned property, REO) increasing for homes priced $800,000 to $2,000,000, especially up valley. By up valley I mean the Cities of St. Helena, Calistoga, Angwin, Deer Park, Oakville, Rutherford and the Town of Yountville and only those listed in BAREIS, my MLS. Today, there are 8 distressed sales of 57 active listings in this price range, compared to 10 of 57 on February 1 st.
This still represents a drop in the number of homes for sale in this price range, down from 90-100 which has been typical in the last two years I have been tracking this. One other thing to remember, the last time I compared BAREIS stats to Realist, a company who’s data comes from the county tax assessor, the 8 in BAREIS was only approximately one third of the total in Realist. Heck, there are 3 in foreclosure in my own subdivision, the Vintage, in Yountville which are not in BAREIS. Time will tell and it will be very interesting to see if this trend changes in the spring when traditionally many properties come to market. Keep tuning in for this as a new monthly stat I will regularly tract from now own. Next look April 1st.