This is the question I hear regarding the real estate industry the most. It is not easy to answer when there are so many factors which change the answer. For buyers? Sellers? What price range? Which city in Napa County? Let’s look back at the last 2 months…
In Napa/Berryessa, in June:
135 New listings hit the market
115 listings were sold
92 listings had price reductions
In the bay area, in May:
“Home sales have strengthened this spring thanks to lower mortgage rates, more inventory and a transition to a more neutral market where buyers have some bargaining power,” said Andrew LePage, a CoreLogic analyst. “This May’s annual sales decline of just under 3% was the smallest decrease since home sales began falling on a year-over-year basis last August. Lower mortgage rates and a flattening of home prices mean that compared with a year ago there’s been a decline in the mortgage payments that many would-be buyers must qualify. In May 2018, a principal-and-interest mortgage payment based on the region’s $874,750 median sale price was 24% higher than a year earlier, driven up by sharp gains in both mortgage rates and home prices. In May 2019, the monthly payment on the median-priced home ($860,000) was 7.3% lower than last year thanks to a slight decline in prices and a roughly 0.5-percentage-point drop in mortgage rates.”
The median price paid for all homes sold in the San Francisco Bay Area in May 2019 was $860,000, up 1.2% from $850,000 in April 2019 and down 1.7% from $874,750 in May 2018.
Absentee buyers—mostly investors, but also second-home buyers—bought 14.9% of all homes sold in May 2019. This is down from 15.4% in April 2019, and down from 18.1% in May 2018. The absentee buyer share peaked at 28.8% in February 2013, and since 2000, the monthly average has been 16.5%.
corelogic.com CONTACT: firstname.lastname@example.org May 2019
In Napa, last week:
I received 1 new listing, and had 2 offers accepted for 2 different buyers and showed one off market property to a buyer.
Below are the open houses for today. Take a look at what the local real estate market is offering for yourself.
If you need a local lender to discuss your options check out my success team at www.jennygass.com or just ask and I am happy to send a referral your way.
Enjoy your summer day!
I returned from my week in Maui and showed one client property before they headed off to Maui too! Whether you are headed there this summer, this year or planning for the future, here are my top recommendations on the island:
Kahului/Wailuku- first stop once you land at the airport- Like Poke? food truck and others that are outstanding right across the street from Costco. Next head over to Ululani’s which is the best shaved ice in the world, (my favorite: almond, chocolate, coffee topped with mochi or mango habanero topped with toasted coconut and adding ice cream really is a game changer as I found after following some Yelp advice) and you will find an authentic Hawaiian bakery called Hoi Hoi- try everything!
Kihei- Best breakfast: Kihei Café- HUGE breakfasts that do not disappoint. Portuguese sweet bread French toast, cinnamon rolls, loco moco bowl with kalua pork, rice and eggs. One of our favorite beaches is between Wailea and Kihei, free public parking is available across the street from the beach access. Our condo on that side of the island was Hale Kamaole which never disappoints.
Wailea- Monkeypod for the famous MaiTai with flavored foam not to be missed and Grand Wailea for a beautiful view and outstanding luau
Lahina- Aloha Mixed Plate for a great dinner with a wonderful view and Down the Hatch for apps, drinks and ADULT shaved ice! Don’t forget Kimos for last night tradition of Hula Pie with a final view. Seek out Baby Beach for the best snorkeling.
Kanaapali- park in Wahlers Village (there is an Escape Room there that was the highlight of my 11 year old son’s trip?!) and walk down to visit the Sheraton and jump off of black rock and swim with turtles or the Hyatt has free public parking and beach access. We really enjoyed the waves at the Hyatt, there was even a canoe race day while we were there with many locals and there is another Ululani’s shaved ice on the Hyatt property next to the pool and beach- what more could we ask for!
Not bad coming back to Napa with perfect weather and wonderful clients ;)
Head out to these open houses today and let me know how I can help you with your real estate needs.
My family and I enjoyed the first week of summer vacation in Maui. It was a great time to recharge and step back to evaluate our lives. How do you we plan to bring Maui back with us? A quiet morning routine to focus our day, calming music and scents with plenty of outdoor time are just a few take home plans. Most importantly, we need to focus on each other outside of work hours, creating a better distinction between time to get things done and time to be with those we care about. All good things. A book I use in my morning routine and highly recommend is, “Chop Wood Carry Water” by Joshua Medcalf. A short easy read and I enjoy one quick chapter each morning to keep me focused on enjoying the process versus the outcome.
Take some time with those you care about and tour some open houses. Let me know how I can help you in your process of finding your next home.
School is out! Our kick off to summer in 3 neighborhoods in Napa provided free ice cream to over 300 locals with the hope of building community and celebrating the season together. Thank you to ReThink ice cream for partnering with me for these events. You can buy this delicious ice cream from the Napa based company at Brown’s Valley Market, Ranch Market, Whole Foods, Raleys and Nob Hill. Almond Asteroid is my favorite! Thank you to those of you who came out to celebrate with us. Continue kicking off summer with these open houses.
It is graduation season compounded with Auction Napa Valley! I know we are all quite busy this time of year but I encourage you to take advantage of our seasonal peak in inventory and check out a few of the many open houses (listed below) available for you today. I will be at 4 Skycrest Way from 1-3PM and am available to answer your questions about any property and set up additional showings.
Growing up in Napa I learned the value of community. I strive to serve the neighborhoods that I grew up in and the people who desire to make Napa their home. I help people connect to the community of Napa with a focus on continuing to build the unique community of Napa and my belief that home is where your story begins.