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. Today, there are 10 distressed sales of 57 active listings in this price range, compared to 11 of 52 on January 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, but up from 52 last month. Still 17.5% of all the homes for sale priced $800,000 to $2,000,000 in the Napa Valley are distressed sales. 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 March 1st.