The $914,645 average sales price here was 3 percent higher than it was a year ago at $888,001—and likely giving sellers a reason to smile as this second quarter figure was the third highest quarterly average recorded in Napa County over the last 10 years. The price point also makes Napa County a desirable alternative to the seven-figure San Francisco, Marin and San Mateo Counties. Quarterly sales volume, at 338 total homes sold, was in line with the market activity of the last four second quarters in Napa. While inventory moved faster than it did in Q1, Napa’s average of 75 DOM in Q2 was still 14 percent slower than that of the previous year.
AVERAGE SALES PRICE BY CITY – THE TOP 10
It was Yountville moved into the top spot this quarter, knocking St. Helena down a notch from its previously held number one position. However, Yountville’s $2.647 million average sales price was supported by a $6.45 million home sale that occurred in the area and further explains such year-over-year gains of 173 percent. Napa County’s highest priced sale of the quarter was a $7.55 million closing in St. Helena. At the same time, St. Helena’s average sales price of $2.011 million in Q2 fell slightly year-over-year.
SALES PRICE CHANGE Napa County sellers who priced right on the money or slightly above the market’s yield, and required no price change, recouped their original asking price. While those who chose to test the market were able to recover 91 percent of their initial asking price.