Vineyard Sales in Sonoma and Napa
Monday, October 22nd, 2007Recent Vineyard Sales Since May, 2007
The grape harvest has come to a close and grape gondolas are being parked for another year. I hope it has been a good harvest for you and your friends. Since the single family residential market is in a stalemate where buyers believe housing prices will continue to decline while sellers think their house is still worth what it was months ago, let’s look at the bright side—vineyard sales activity. After years of relatively modest sales price increases, the demand for vineyards has been strong with sales prices increasing. Below is a chart listing four vineyard properties that were sold in the past five months. Average sales prices/acre ranged from $55,000 to $149,000/acre. Why such a wide spread? The differences in vineyard sales prices/acre are due to the demand for the type varietal planted, age and yields, grape contracts and appellation.
The vineyard sale in Windsor was record breaking for the Russian River appellation. It sold for $4,050,000 or $126,000/acre. The blue line illustrates the sales price/acre, $126,000. The red bar is the total selling price, $4,050,000.
The reality- there is opportunity on the buying side so buyers put your financing in place. Sellers, understand your market segment before making a decision to list.
Finally, call me at 707-815-8749 to assist you in developing your strategy to buy or sell and aid you in your decision-making process or visit my website to learn more about the Stornetta Team.
