We analyze several housing market indicators in order to present an in-depth breakdown of Napa Home Market comparing February 2009 to February 2010.
Summary of Key Points
Napa Home for Sale has not shown any significant signs of improvement.Median sales price did move up but sellers received less than what they received last year.Median days on the market also increased .
Key Statistics, Napa, CA: Median Sales Price (13.55%), Median Days on Market (39.24%), and Number of Units Sold (-19.23%), Sales Price to List Price Ratio (Feb 09 97% – Feb 10 94%)
Napa Home
The city of Napa experienced a 13.55% increase in median sales price from last year going up from $343,933 (Feb. 09) to $390,538 (Feb. 2010). Median days on market data for Napa shows that houses are selling slower than Feb 09. It took 94 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 131 days (a 39.24% deterioration). Another important factor to consider is total number of units sold. In the month of Feb 09, 52 units were sold compared to 42 for Feb 10 (-19.23% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Napa. SP/LP ratio for Feb 09 was 97% compared to 94% for Feb 10.
Let’s take a brief look at neighbors Novato and Petaluma. Novato Home featured a 13.25% decrease in median sales price ($590,429 Feb 09 – $512,200 Feb 10) and Petaluma Home saw a 9.79% increase ($380,027 Feb 09 – $417,245 Feb 10). Are houses in Novato and Petaluma selling faster or slower this year? Well, Novato experienced a 1.18% decrease (119 to 118 days) in median days on market and Petaluma a 6.96% decrease (95 to 88 days). In the units sold category, Novato sold 14 units more (66.67%) in Feb 2010 than 09 and Petaluma sold 16 units more (64.00%) in Feb 2010 than Feb 09.
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