NAPA VALLEY

(Calistoga, Napa, St. Helena and Yountville)

August 2022 Statistics

In August everything was down year over year. The total homes for sale were down 24.8% (65 homes), the number of sold homes was down 28.4% (31 homes), the number of pending was down 24% (24 homes), the average sold amount was down 7.1% ($152k on average), the average dollar per square foot was down 8.8% ($84 on average) and the average number of days on market was down 47.3% (39 days). To get a better understanding of the right time to buy/sell, below is a breakout by the town.

This might be a good time to buy with a potential softening of the market in certain places. Make sure to talk to a lender for preapproval and to understand what you can afford. If you don't have one I'm happy to help you find one in your area.

Calistoga:

The inventory and total sold/pending are flat to last month but the average dollar amount and dollar per square foot are down. Year over year, however, we are still down in the number of active homes and also down in sold/pending homes. 

The large discrepancy in the dollar amount and dollar per square foot, when compared to last year, were houses that sold for $5.65M and $4.5M ($1,800 per sq ft).

It is still looking like a seller's market but there is definitely a softening.

# Homes Active: down 29% (38 last year and 27 this year)

# Homes Sold: down 50% (6 homes last year and 3 this year)

# Pending Sales: up 16.7% (6 last year and 7 this year)

Average sold amount: down 51.5% (2.713M last year and $1.317M this year)

Average dollar per sq. foot: down 25.9% ($895 last year and $663 this year).

Days on market: down 68.4% (206 last year and 40 this year)

Napa:

Everything but the dollar amount sold and dollar per square foot are down year over year.

Compared to the last month, while the inventory continues to drop (14 homes), more homes are selling (22 homes) but at lower price points ($537k less on average and $114 per sq ft less).

While it is still a seller's market, there is some opportunity for buyers.

# Homes Active: down 32% (175 last year and 119 this year)

# Homes Sold: down 24% (83 last year and 63 this year)

# Pending Sales: down 23% (78 last year and 60 this year)

Average sold amount: up 8.7% ($1.197M last year and $1.301M this year)

Average dollar per sq. foot: up 4.7% ($660 last year and $691 this year)

Days on market: down 2.5% (40 last year and 39 this year)

Saint Helena:

In regards to inventory and number of homes sold, a better comparison is to two years ago because they are almost the same (47 active and 15 sold/pending in 2020 and 48 active and 17 sold/pending in 2022).

Two houses that sold for $540k ($377 per sq ft) and $885k ($840 per sq ft) brought the average dollar sold and dollar per sq foot down this year. If those are taken out, this year is higher than last year at $2.99M average sold price and $1,522.66 per sq ft.

It is still looking like a seller's market.

# Homes Active: up 11.6% (43 last year and 48 this year)

# Homes Sold: down 33.3 (15 last year and 10 this year)

# Pending Sales: down 50% (14 last year and 7 this year)

Average sold amount: down 18.3% ($2.973M last year and $2.429M this year)

Average dollar per sq. foot: down 24.4% ($1,288 last year and $974 this year)

Days on market: up 25.4% (67 last year and 84 this year)

Yountville:

While the inventory and number of homes sold are down, the dollar amount and price per sq ft are up year over year indicating that this is still a seller's market. 

# Homes Active: down 50% (6 last year and 3 this year)

# Homes Sold: down 60% (5 last year and 2 this year)

# Pending Sales: flat (2 last year and 2 this year)

Average sold amount: up 72.3% ($1.698M last year to $2.925M this year)

Average dollar per sq. foot: up 18.4% ($969 last year and $1,147 this year)

Days on market: down 85.6% (111 last year and 16 this year)

Today's Rates (please check with your lender as these change regularly):

30 Yr FRM 6.33%

15 Yr FRM 5.55%

FHA 30 Year Fixed 5.60%

Jumbo 30 Year Fixed 5.65%

5/1 Year ARM 6.00%

VA 30 Year Fixed 5.65%

(Includes single-family homes in Calistoga, St. Helena, Yountville & Napa)

No. Properties Active in August 2020: 224

No. Properties Active in August 2021: 262

No. Properties Active in August 2022: 197 (down 24.8% to 2021)

No. Properties Sold in August 2020: 105

No. Properties Sold in August 2021:109

No. Properties Sold in August 2022: 78 (down 28.4% to 2021)

No. Properties Pending in August 2020: 125

No. Properties Pending in August 2021: 100

No. Properties Pending in August 2022: 76 (down 24% to 2021)

Avg days on market in August 2020: 92

Avg days on market in August 2021:83

Avg days on market in August 2022: 44 (down 47.3% to 2021)

Avg sale price in August 2020: $1.189M

Avg sale price in August 2021: $2.145M

Avg sale price in August 2022: $1.993M (down 7.1% to 2021)

Avg $/Sq. Ft. in August 2020: $672

Avg $/Sq. Ft. in August 2021: $953

Avg $/Sq. Ft. in August 2022: $869 (down 8.8% to 2021)