Generally speaking, after years of high appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018.
For 2020, economist Ken Rosen at UC Berkeley has said he expects the Bay Area median price to remain basically flat, within a general range of up or down 2% – in other words, similar to what happened last year. We can’t predict the future, but that certainly doesn’t sound unreasonable, and happily avoids the sensationalism of many other media-grabbing forecasts.
In this report, some Sonoma County cities are included in the city stats for further context to the greater Wine Country market.
Median sales prices are generalities and not exact measurements of changes in fair market value. They can be affected by a number of factors and are sometimes subject to anomalous fluctuations. How they apply to any particular home is unknown without a specific comparative market analysis.
Napa County is challenging as regards to city median home prices: It only has 3 cities with a relatively substantial number of sales (Napa, American Canyon, St. Helena), and of those, St. Helena – with the fewest sales of the 3 – has such a huge range of sales prices that its median price often fluctuates simply due to what homes sold in a given period.
Economic Factors Affecting
Real Estate Markets