Napa Valley Market Snapshot, May 3 - May 9, Happy Mother's Day

Real Estate Agent with Pacific Union International - Christie's Great Estates

Interesting week in the real estate. There was a rush of ratified contracts hoping to take advantage of the federal tax credit, expiring April 30, hoping to close by June 30th.

Activity remains healthy. Of the properties new to the market, 67 in all, 26 are either REOs or SS. Of the 29 homes that closed escrow in the last 7 days, 17 were REO's or SS.

It is a little rainy today. These are still inconsistent times. We are experiencing many Realtors practicing real estate in Napa who are not from Napa nor have a track record in our area. But the banks and ill-informed homeowners continue to trust these strangers. Most of us Realtors in Napa work hard to maintain the highest level of the Code of Ethics and communication. This is also the fallout from a regionalized MLS.

some activity at the Silverado Country Club. Offers submitted and escrows closing. This is a good sign. 

Atives, New Listings:                    67                    Price Reductions:          38

Contingent, Under contract:         44                    Pending Sales:             35

Solds, closed escrows:                29                    Back on the market:      25

High new listing:     St Helena, $3.990 Million,  just over 2 acres, 6900 sq. ft, 4 bedrooms, 6 baths

Lowest new listing:  Napa, Condo, $149,900  3/3/ 1232 sq. ft.   Short Sale

High Sale, sold:      Napa, $785,000, originally listed for $845,000  .50 acre, 2400 sq ft, 4/2, very desirable area, my clients waited one week to long and would have paid more for the house


Fun story: I do believe that the banks work off a different balance sheet. Many times we ask, why wouldn't they......? Well, they don;t make sense unless you know what numbers they are using. There is listing presently on the market I had in escrow, working for SS approval at $330,000, it is now listed for sale as a REO for $289,000, not in escrow and has been on the market for 60 days now. They could have closed this last November. I just know somewhere we are paying for this somewhere.

Have a great week.

Stefan Jezycki, in the Napa Valley

Comments (5)

Barbara Kornegay
REMAX Essential - Wilmington, NC
Wilmington NC Real Estate, Homes

Wow What a great post....  I hope everything is going well with you - Think Positive thoughts and BLOG ON!!!

May 09, 2010 10:41 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Appreciated your stats report...your area foretells what happens in mine, it seems, within a 3 to 4 month period.

May 09, 2010 10:57 AM
Stefan C. Jezycki
Pacific Union International - Christie's Great Estates - Napa, CA


Thank you for the encouragement. Sometimes I wonder if people find this information useful. It is an interesting time in the world.

This is going to be an awesome week. I am pretty fired up to attack it.

Here we go. Thank you for your message.

Stefan in Napa Valley

May 10, 2010 04:56 AM
Stefan C. Jezycki
Pacific Union International - Christie's Great Estates - Napa, CA

Sea to Sky Premier,


Hi there, I am glad to hear that you find this helpful. By the name of your company I am guessing north, like Montana way. Where are you located?

Feel free to call or email anytime to talk about our market. There are markets that I track for the same reason you noted.

Have a great week.

Stefan in the Napa Valley

May 10, 2010 04:57 AM
Carra Riley & Declan Kenyon
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Stefan...Your stats look good for business!  Best of luck.

cosmic cow

May 10, 2010 04:57 AM