Napa Valley home sales feel very sluggish lately with the earthquake quite often quoted as the culprit. Even the Napa Valley Register lead off with a September 28 headline, “Napa County home prices and sales dip in August“. I decided to have a look at the September and October sales as reported in Bay Area Real Estate Information Systems, my local MLS.
September 2013 had 130 sales with an average sales price of $526,932 compared to 116 in 2014 with an average price of $814,514, quite a jump. Through October 11th, 2014 sales were 41 compared to 50 sales in the same period for 2013 with the averages virtually unchanged near $790,000. Not bad given everything that has happened here.
Some of the largest damage, both physical and monetary, was suffered by Napa’s two largest downtown hotels – the Andaz Napa and Westin Verasa but having a great deal of water damage from broken water pipes which flooded rooms and common areas.
Four and a half weeks later, the 141-room Andaz on First Street remains closed while only a third of the 180 rooms at the Westin have reopened, hotel managers report.
Neither hotel suffered structural damage, but the cleanup and repairs of cosmetic damage is time consuming, they said.
For a complete story about the hotels, go to Jennifer Hoffman’s article in the Napa Valley Register.
I was fortunate to only have about $1,500 in breakage, mostly ceramic items and other artwork, but no structural damage. Hopefully, this is the last we hear of the West Napa Fault for awhile. Though there have been plenty of aftershocks, I feel the occasional phantom one as well. All in all, we were very lucky. Except for about 150 structures which are not habitable, things are almost back to normal.
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