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 6 distressed sales of 86 active listings in this price range, compared to 6 of 90 on September 1st. Keep tuning in for this as a new monthly stat I will regularly tract from now own. Next look November 1st.
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Pretty steady numbers year to year. Hopefully they clear up soon. What % of your sales are distressed?
Marc
In the lower prices, approximately 50%. These are many in the Cities of Napa and American Canyon. Up Valley, it is much less, my guess would be around 10%. I have tracked this number for 15 months in the price range in my post and this last month number of 6 is the highest I’ve seen.