When it comes to Napa Valley wine country real estate, especially properties like vineyards and wineries, it’s useful to take the long view – and the reality is that real estate values here have increased significantly during the past decade.
Saint Helena, CA (PRWEB) April 29, 2010
The median home price and land values in Napa Valley show a significant decline from highs in 2006 and 2007, although despite this recent trend, long-term projections remain positive. Bloomberg reports that Napa Valley land values have dipped by 15 percent from their peak in 2007, while City-Data.com shows that the median home price in Napa County has dropped from 2006’s more than half a million to approximately $300,000 as of the last quarter of 2009.
“The numbers may look bleak,” says Napa Valley Real Estate expert Amy Sawday Kramer, “but remember that these are short-term numbers. When it comes to Napa Valley wine country real estate, especially properties like vineyards and wineries, it’s useful to take the long view – and the reality is that real estate values here have increased significantly during the past decade. I have no doubt that when you take into consideration the numbers from previous decades, as well, you will see an exponential increase in value. We may be in a recession, but Napa Valley remains the country’s premier wine-producing region and a truly exceptional place to live.”
Kramer also notes that the median price of homes for sale in Napa Valley already began to increase in 2009, according to data from City-Data.com. “It’s also good to keep in mind that all real estate is local,” she says. “The prices and values of Napa Valley homes in the city of Napa, for example, have fallen by 10.5 percent year-over-year according to the Zillow Home Value Index, while those in Yountville have risen by 18.2 percent.”
Kramer, as well as various other area real estate experts, sees the market as very favorable towards buyers and investors. “If you’ve been dreaming about living in Napa Valley,” she says, “there is no better time to purchase your dream home than right now. There are great deals to be found here.”
For more information on the real estate market in Napa Valley and to start searching for properties here, visit Kramer’s website, http://www.AskWineCountry.com