Napa home prices up, sales down: multiple offers, over asking price, common | Local News
The average price of a Napa County home sold in July was $ 840,000. This home at 1040 Bella Drive in Napa recently went up for sale for $ 825,000. The modern house from the middle of the century is in its original condition. It received several offers above the asking price.
This home is located at 2295 Adrian St. and is currently priced at $ 849,000. It was rebuilt. The average price of a Napa County home sold in July was $ 840,000.
This home at 1040 Bella Drive in Napa recently went up for sale for $ 825,000. The modern house from the middle of the century is in its original condition. It received several offers above the asking price.
Lani Cooke has been selling real estate in the Napa Valley for more than 35 years, but 2021 was one for the books.
“I’ve never seen a market like this,” she said. “Nothing seems to be selling where it’s listed,” said Cooke. “Almost everything seems to be going well (asking price), whether a little or a lot. It’s crazy right now. “
“Everything we’ve listed lately in the 800s or 900s has all gone beyond demand,” and with multiple offers, said Cooke, who works with Golden Gate Sotheby’s International Realty.
Napa homes that don’t require major repairs or remodeling start in the mid-range of $ 700,000 “and go up from there,” she said.
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There is simply not enough inventory to meet demand, said Bradford Simpkins of ReMax Gold.
“Prices in the 500s and 600s are almost non-existent,” Simpkins said. “If the price is right, it’ll be gone in 30 days.”
According to Bay Area Real Estate Information Services, the median sales price of a Napa County home increased 16.5% year-over-year, from $ 721,000 in July 2020 to $ 840,000 in July.
At the same time, the number of apartments sold fell from 198 to 139 year-on-year.
Cooke currently has a property listing in Northern Napa that is near this average price. Located at 1040 Bella Drive, it is a mid-century modern house in its original condition with views of the vineyards. The home was listed for $ 825,000 last week.