Because the county does not have that many sales in any given month and its range of sales prices is so wide, Napa’s monthly median sales price is prone to anomalous fluctuations. Which is why we prefer the 6-month rolling average used in the chart below. However, for what it is worth, the Napa County median house sales price in July was $782,000, just the slightest tad lower than its all-time monthly high of $785,000 in September 2019.
Supply & Demand
Active listings, new listings, listings accepting offers and closed sales volume.
Inventory relatively low and demand is soaring.
Bay Area Markets Comparison
This table ranks each county by the percentage of active listings going into contract in June/July 2020 – a standard statistic of market heat – compares it to the same period of last year, and then rates the scale of the year-over-year change.
Many counties are seeing dramatically increased demand over last year, with Napa seeing one of the biggest jumps.
One reason why its June/July 2020 percentage-of-listings-accepting-offers is substantially lower than most other counties is its respectively, very high inventory of expensive homes for sale. Right now, approximately 45% of Napa’s active listings are priced $1,500,000 or more, but in the last year only 14% of sales have been in that price range: a very large imbalance. More expensive homes, on average, take much longer to sell due to the smaller pool of prospective buyers. This is the case despite the recent surge in demand for such homes (illustrated later in the report).
Higher-Price & Luxury Homes Accepting Offers –
a Year-over-Year Comparison
A dramatic spike in demand over levels seen over the past 2 years.
Closed Sales Volume by Month,
Homes $1,250,000 & Above
Price reductions and months supply of inventory.