If you’re ready to list a Napa Valley home for sale, take the time to reacquaint yourself with current market conditions. Listing during a seller’s market almost always pays off—but keep in mind that there have been major shifts in the Napa Valley real estate market over the past two years, and these changes will impact your sale.
If you’re getting ready to list, consider the following information on what to expect from the Napa real estate market in the near future.
Napa is still a seller’s market
You’ll be glad to know that the Napa real estate market is still a seller’s market, meaning there are more buyers than available inventory. Despite uncertainty in the stock market and rising mortgage rates, Napa homes for sale are still as competitive as they were a year ago.
As a seller, what you should take away from this is that there has never been a better time to sell your Napa real estate. More people than ever want to buy their own piece of Napa Valley, and there’s going to be no shortage of buyers from around the world lining up to look at your home.
As a seller, what you should take away from this is that there has never been a better time to sell your Napa real estate. More people than ever want to buy their own piece of Napa Valley, and there’s going to be no shortage of buyers from around the world lining up to look at your home.
Video sells
If you haven’t listed property recently or checked out other Napa homes for sale, you may not realize just how marketing and selling a home has changed in the last few years. Pictures are still a mainstay for online listings, but video marketing has become hugely popular—and with good reason.
Over 35% of homebuyers use sites that include video tours, and over 55% agree that videos are very useful when deciding to look into a home further. A video walkthrough of your Napa real estate can provide a good look at what sets your home apart and will help buyers become attached to the property before they even step foot inside of it.
Just make sure you’re prepared. If you’re not staging your home, a clean, tidy home with no extra clutter or personal effects will go a long way in making it show-ready.
Open houses are out
Good news if you hate the concept of open houses. More and more realtors are doing away with open houses entirely, especially when it comes to Napa homes for sale. There are far too many people only interested in visiting with no intention of buying, which isn’t helpful when selling luxury Napa real estate.
Instead, showings are timed and scheduled out in advance, normally around your schedule. How flexible you’re willing to be with your Napa real estate will dictate how many people get to step foot inside your home.
Expect multiple offers
Reasonably priced Napa homes for sale are going to see many offers. Because of the intense seller’s market, homes that are priced appropriately or even slightly under market value tend to get several offers within a few weeks of being on the market, and often experience a bidding war.
This is obviously great for sellers, but make sure you weigh each offer appropriately and consider what they’re actually giving you. The highest offer isn’t always going to be the best choice, and it’s something you should discuss with your real estate agent before accepting. A quality agent will guide you through accepting offers versus holding out and exploring your options.
Be prepared to move
There are a few different types of sellers when it comes to Napa real estate. If you’re living in your Napa home full-time, you should begin preparing now for the property to be sold. This means packing up your belongings and securing another place to live. Many Napa homes for sale are staged or empty when they’re being listed and shown, and this can help you with both the initial interest and the final sale price of your home.
If you’re actively living in your home when it’s on the market, make sure you plan accordingly. Line up movers sooner rather than later, and don’t get caught having to negotiate extra time in the property itself because you didn’t plan ahead. Rent a storage unit nearby to declutter your existing space, and also move one step closer to your next home.
Closing and escrow still take time
Compared to how quickly you’ll see offers for your Napa real estate, the entire sales process from start to finish may feel like it’s dragging on. For most Napa homes for sale, the entire transaction takes, roughly, one month. Once the negotiation is complete and everyone is on the same page, you go into escrow, the title is cleared, the home is inspected, and an appraisal is done.
If you’re selling without contingencies, these last few steps won’t bother you at all, but most buyers opt for them to be completed before the sale is finished—just so they fully understand what they’re buying. Then, a final walkthrough is done, keys are handed off, and paperwork is completed. A cash buyer for your Napa real estate will also help the process move a lot faster since a mortgage company doesn’t need to be involved at all.
Ready to list your Napa home for sale?
If you’re ready to jump into this hot market and list your Napa real estate, reach out to Avi Strugo. Avi has a deep understanding of the Napa real estate market and what buyers are looking for—and specializes solely in Napa Valley real estate. His team will work with you to ensure your home is prepared, marketed, and sold quickly. Contact Avi today with all of your Napa real estate questions!