You're right: prices have increased to approximately late 2004 levels based on recently sold properties. The market's peak here was around 2006 so today's prices are still below that peak. I don't find most sellers eager to have their home sit on the market but pricing is not an exact science. That said, homes in Napa, on average, are selling for 96% of asking price and closing on average in 88 days -- just over 2 months,. That suggests to me that prices are about right, on average, since the time on the market isn't extended. Are you looking for a specific type of property and/or in a specific price range and not finding much?