Napa County’s average sales price of $959,542 continued to grow this quarter, making it the highest average recorded in a third quarter, and the second highest average overall since 2008. The North Bay was the only Bay Area region to actually see its average sales price go up from Q2 to Q3 this year. For Napa County, it was a 5 percent and 8 percent increase quarter-over-quarter and year-over-year, respectively.
Napa remains a desirable alternative for those priced out of the seven-figure markets in San Francisco, Marin and San Mateo Counties. In all, Napa County had a total of 316 homes sold in Q3, a 14 percent drop from the previous year. The average home here spent an average of 73 DOM prior to close—a fairly standard pace for this time of year, given that it’s a more specific pool of buyers looking to purchase in Wine Country.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Oakville had the largest closing with a $15-million home sale, therefore skewing the city’s average sales price for Q3 as it was the quarter’s only transaction. At $1.725 million, St. Helena was the more accurate Q3 leader in terms of average sales price. Highest year-over-year gains occurred in Angwin, which saw its average sales price rise 64 percent to $937,000.
SALES PRICE CHANGE
Sellers appeared to be a little too ambitious in Q3, as on average, even properties requiring no price change still lost 1 percent on original list price. Those testing the market even more only recovered 90 percent of their initial asking price.