TheÂ City of Napa home sales reportÂ for August 2013 reflects a demand-diverse south Napa Valley market.Â While a few neighborhoods are holding their value, most represent soft markets where sales are slow and values are either stable or slipping.Â The general volume of sales has begun to slow as schools have re-opened.
Of the 92 homes that closed escrow in August (down from 161 in July), 20 were on the market 30 days or less and 41 were on the market longer 60 days or longer.
Of the 242 homes now for sale and not in escrow, 26 came on the market this past week.Â Another 26 homes recently reduced their asking price.Â There are still relatively many short sale homes (6) and foreclosures (8) for sale compared to other cities in the area.
September 1stÂ Napa Real Estate Market Snapshot:
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