Napa Valley Market Trends

 

 

John Murdock, a respected local lender with Custom Lending Group, does a detailed analysis of the Multiple Listing Service records of home sales.  With his permission, I am reprinting his latest quarterly report.  

 

 
   

January - March 2001
First Quarter Statistical Real Estate Market Report
Napa County, California

John and Marlene Murdock, Custom Lending Group
1529 Fourth Street, Napa, CA 94559
(707) 252-2700

 
   

 

"It is with some degree of hesitancy that I release the data contained in the First Quarter Statistical Reports. The reason being, with only three months of real estate sales data available, averages, percentages and indicated trends may be somewhat misleading. As a greater number of sales are reported during the year, the report becomes more meaningful and reliable

As an example only four homes have been reported sold within the town limits of Yountville so far this year as compared with nine during the first quarter of 2000. Two of these sales exceeded prices of $590,000, causing the average sale price to jump from $380,717 during the first quarter of 2000, to $487,375 in 2001. I really don't feel this gives a very accurate picture of home values in the Town of Yountville.

Overall however, when considering the decline in sales during the latter part of 2000, and a continuing drop in the number of home sales reported during the first quarter of 2001, (a decline of approximately 10% when compared to the first quarter of 2000), it might be concluded that the buying frenzy may be leveling off and that we are returning to more normal times. Remember 1998, 1999 and 2000, all represented record breaking sales volume years, and somewhat out of the ordinary.

On the other hand, the continuing rise in sales prices of homes, particularly in the more affordable range under $400,000, have shown no indication of slowing or moderating. Most prices of existing subdivision homes in Napa County continued to rise at staggering double digit rates. One of the hottest markets in Napa County can be found in American Canyon where sales volume and home prices have soared at a significant pace. (See "Five Year Comparison of Other Incorporated Communities of Napa County".)

It will be of interest to us all to see what affect the current energy concerns will have on the real estate market over the next year or so here in Napa County, the Bay Area, and throughout the entire state of California."

By John & Marlene Murdock
Custom Lending Group, (707) 252-2700

 
   

Main Page

Average Sales Price - Selected Subdivisions

Average Sales Price - Selected Common Interest Developments

Real Estate Market Trends - A 13 Year History

Other Incorporated Communities of Napa County - Five Year Comparison

 

 

Copyright  John & Marlene Murdock, Custom Lending Group, 
Data Compiled by John & Marlene Murdock, Custom Lending Group, (707) 252-2700

The information on this  page may not be duplicated in any publication or website without specific authorization from the authors.  However, you may freely reference and link to this page from your real estate related website.  

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