Do you feel the real estate market is slowing, I do and the sales confirm it. Below are the sales for the Napa Valley comparing October 2012 to the same month in 2013. The following article in the latest issue of Market Matters put out by the CALIFORNIA ASSOCIATION OF REALTORS® confirms this true for the state of California.
For Napa County in October 2013 there were 124 residential properties sold compared to 161 for October 2012. That represents a 23 % decrease much higher than the state average of 11.1 %. For the same months, Napa County median price of $450,000 compared to $375,000 represents a 20% increase, slightly less than the 25.3 % state median price increase. In case you wonder why the difference in my sold numbers, they don’t include manufactured homes as does below.
- According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), California home sales declined for the third straight month in October, while sales of condominiums and townhomes continued to be strong. Economic uncertainty surrounding last month’s government shutdown and a typical seasonal slowdown dragged down the state’s home sales.
- Sales in October were down 2.7 percent from a revised 412,260 in September and down 11.1 percent from a revised 451,090 in October 2012.
- The statewide median price of an existing, single-family detached home edged down 0.3 percent from September’s median price of $428,740 to $427,290 in October. October’s price was 25.3 percent higher than the revised $340,910 recorded in October 2012, marking the 16th straight month of double-digit annual gains.
Let me put my nearly 30 years experience to work for you and help you get the perfect Napa Valley property