Similar to Marin, Napa County experienced a slight decline in average sales price from Q3, but was still up 11 percent from Q4 2016. Coming in at $899,207 this quarter, it was the second highest Q4 average recorded for the county in the last 10 years. Napa County was able to hold onto its steadily-growing average price point despite only having a total 279 sales in the fourth quarter of 2017 — resulting in a 12 percent decline from the previous quarter and 9 percent from the previous year.
That said, it’s not entirely uncommon to see such sales volume fluctuations in places such as the Bay Area’s Wine Country given that properties tend to attract and appeal to a more specific buyer pool who’s looking to either be farther away from the busy city and/or take advantage of the more affordable price points. The average home in Napa County spent an average of 79 DOM this quarter before going into contact, slowing down 7 percent from Q4 2016.
AVERAGE SALES PRICE BY CITY – THE TOP 10
St. Helena had the highest average sales price for Napa County in Q4 at $1.813 million. The average sales price in Angwin, at $678,000 this quarter, rose 166 percent from $255,000 in Q4 2016. Four transactions took place here in Q4 within the $600K-$700K category. Calistoga and Yountville both saw declines of 16 percent and 11 percent year-over-year.
SALES PRICE CHANGE
For Napa County sellers that priced their properties at what the marketing would bear in Q4 were able to get their whole asking price. On the flipside of that, those who tested the waters only recovered 90 percent of their initial asking price.