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Dave Johnson's Blog

By Dave Johnson | Broker in Napa, CA

August: Back on the trend line

After a disappointing July, August real estate sales in Napa rebounded nicely.

 

Normal sales (where the seller has equity) were the highest in over two years! Yeah!

 

Short sales (the seller owes more than the house is worth) and REO sales (bank owned foreclosures) held steady.

 

Overall, the trend remains positive with distressed sales now down to about 40% of total sales, as opposed to 76% in January!

 

We started out the year with only 20% of the monthly sales being over $500,000. Sales over $500,000 have gradually increased, and in August, rose to 29% of sales. Yet another indication of the recovery of the real estate market here in Napa.

Here are all the details if you like numbers, or just call me for a personal assessment of the market and what opportunities there are for you.

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