Napa County Market June 2019 Report

Sales & Prices Increase as the Spring 2019 Market Heats Up, But Inventory Up and Sales Volume Down Year-over-Year.

Median House Sales Price Trend

In 2018, the median house sales price peaked in August, which also saw the highest number of monthly sales during the year.

Sales Volume Trend

March-May Year-over-Year Comparisons

Comparing March-May of 2019 with the same period of 2018, median sales prices were up a little and average dollar per square foot values down a little. Both are mostly explained by the 3% increase in the median size of homes sold: Larger homes will typically sell for higher prices (of course), but lower dollar per square foot values.

The Napa market held up fairly well year over year, but saw some softening in most of the indicators of supply and demand.

Higher-Price Home Markets

Looking at the Napa markets for homes from $1,000,000 to $1,999,999, and for homes $2,000,000 and above: In May, both hit new highs in the number of active listings on the market. Though the number of listings priced $2m+ outnumbered active listings in the lower price segment (first chart below), the number of sales in the more expensive segment were far lower (second chart).

Median Home Price Changes –
Selected Napa & Sonoma County Cities

Comparing annual median home prices to partial year prices is not really an apples-to-apples comparison because of the effect of market seasonality on sales prices, and in Napa, the issue is further complicated by how few sales some of our communities had over the last 5 months.

Note that full-year 2019 median home prices may be significantly different than the year-to-date figures.

Median House Sales Prices by Bedroom Count –
Houses on Lots of 2 Acres or Less

Average Dollar per Square Foot Values –
Houses on Lots of 2 Acres or Less

Click here to go to our updated map of Bay Area median house prices.

Selected Market Indicators

Besides providing context to market dynamics over recent years, these next 2 charts also are excellent illustrations of the extreme seasonality of the Napa County real estate market: Supply and demand usually climbing from February through mid-late summer, then quickly dropping to their mid-winter nadirs.

Selected Economic & Demographic Snapshots

This chart below illustrates historical trends in unemployment rates, using larger counties to the south as examples, but the trend lines are similar across the Bay Area.

In April 2019, the Napa County unemployment rate was 2.7% – very, very low by historical standards, as were the rates for all other Bay Area counties.

The 3 North Bay counties have the highest median ages in the Bay Area, and the lowest percentages of their populations made up of millennials – Marin County most of all. The counties most affected by the high-tech-hiring boom have seen a significant influx of younger workers – especially in San Francisco.

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