The City of Napa had the fewest single family home sales in the past quarter than anyother quarter in the past 10 years.
The number of single family homes that came on the market this January was 40.5% lower than last January. However, median sales prices for single family homes are up 1.8% year-on-year. Inventory remains low at just 3.0 months supply for single family homes and 2.5 months for condo/townhomes, both significantly lower this year than last.
The economic news and outlook remain strong and interest rates remain low, so expect continued price appreciation and fierce competition among buyers as the Spring season heats up.