This Week in Real Estate - 7-17-15 - Market Trend up!

Trend report for the 1^st half of 2015

The numbers are in and they look great. When looking for trends, I like to look at quarterly data. With the books closed on the second quarter of 2015 here is a great glimpse at what we have been seeing. All the data is from BAREIS MLS, Napa County. But these figures echo what is happening in Sonoma and Solano counties as well.

Let’s start by looking at the Percentage change in Median Price of Quarter 12 months previous. (eg. Q1 2014 vs Q1 2013)

As you can see the dramatic turn around started in 2012. Though our growth in the median price has slowed down, we are still averaging double digit increases. This slowdown is a good thing for long sustainable growth.

Median Prices

The median price is climbing up, from the low of $323,000 in Q4 2011 to $588,000 in Q2 2015. We are less than 10% below the peak of $643,000 in Q2 2007. We will likely be at that figure within 12-24 months.

This gets us to the supply and demand curve from our early economics classes.

Inventory:

Months of inventory:

If you would like a FREE home evaluation, please do not hesitate to call. You may have more equity in your home than you think.

-Kris

Home Tip of the week

Recently there have been a few break ins in Napa while people were on vacation. Some of these events have been by high schools students who know the victims! This has been a growing trend since everyone loves to post on Facebook their great vacation photos. But here are a couple of tips to keep your home safer while enjoying your time away.

#1. You want to make your place looked lived in. Have someone housesit for you. Make sure your newspaper and mail is picked up regularly. Put lights on timers, install motion detector lights, and leave a radio on.

#2. Be careful what you post and how. Check your Facebook privacy settings. When you post that great picture of you at the beach, thank your friend for house sitting. Ask your dog sitter take good care of your pit bulls and Rottweilers.

#3. Talk to your neighbors, tell them that you will be away and give them an emergency contact number. Add security. There are portable motion detector alarms that sell for $20-30 online that will sound a 120 db alarm that will notify a neighbor that something is up.

Enjoy your vacations. Be safe.