Trend report for the 3rd quarter 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 third 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. Q3 2014 vs Q3 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 9.3% from Q3 2014 $550,000 and slightly above the $586,000 last
quarter.
Supply is still
remaining very tight. We have been hovering around 2 months of inventory for
the last few quarters.
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
PS. Save the date
– December 3, 2015 5:30 – 8:30 Toy Drive at Compadres to support Napa’s
Salvation Army Angels and Toys for Tots.
Home Tip of the week
Interest rates
remained low this week after a weaker than expected jobs report.
Rates have been a
little volatile this past few weeks with the Federal Reserve meetings and Janet
Yellen speeches. It is still a great time to take advantage of refinancing or
purchasing with rates in the high 3s and low 4s.
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