Real estate is a funny thing. In tight markets with low inventory, the whisper is, everything is for sale… for the right price. Here’s the thing, in bad markets, everything is for sale too… but for different reasons.
As we move past the middle of 2024 it is a good time to look at vineyard, vineyard estate and winery real estate activity in Napa and Sonoma Counties. By the numbers, it provides a good perspective of what many sellers are experiencing. Not a lot of activity. Publicly available real estate data shows a market long on inventory and short on closed deals. This doesn’t account for “off market” or private transactions but it does provide a good snapshot of the overall wine related real estate market.
By now everyone is aware that the wine industry is going through a down cycle. This in turn can have a negative impact on property values for real estate improvements that are integral to the wine industry ie. vineyards and wineries. Having been in real estate for two and half decades this is the third down cycle I have experienced. It has been well over a decade since I have seen this many vineyards and wineries publicly available for sale in Napa and Sonoma Counties.
The analysis below is broken out into different categories: vineyard estates, commercial vineyards and wineries. The data ranges from July 1, 2023 through July 15, 2024, just over a year of property sales and currently inventory. You can also review specific property details by clicking on the links in each table.
In total, there were 11 sales in Napa County with another 36 properties currently on the market. Properties are available from Calistoga to Napa etc.. Vineyard sizes range from several acres to 64 acres. Prices range from $1,900,000 to $30,000,000. In Sonoma County there were 15 sales with 58 properties currently on the market. Properties are available from Healdsburg to Sonoma etc.. Vineyard sizes range from several acres to 200 acres. Prices range from $1,900,000 – $32,500,000.
From July 1, 2023 – July 15, 2024, per public MLS data.
From July 1, 2023 – July 15, 2024, per public MLS data.
| Land with 10 Acres or Less of Vineyard | ||
|---|---|---|
| Napa County | Sonoma County | |
| Properties Currently on Market | 1 | 2 |
| Sold | ||
| Vineyard Size Range | 9 Acres | 8 - 9 Acres |
| Price Range | $2.5m | $2.3 - $2.8m |
| Click link for list of properties and details: | NAPA | SONOMA |
| House and Vineyard with Less than 10 Acres of Vineyard | ||
|---|---|---|
| Napa County | Sonoma County | |
| Properties Currently on Market | 9 | 7 |
| Sold | 3 | 7 |
| Vineyard Size Range | 4 - 9 Acres | 4 - 9 Acres |
| Price Range | $2.6m - $19.9m | $1.9m - $12.7m |
| Click link for list of properties and details | NAPA | SONOMA |
| Land with 10 Acres or More of Vineyard | ||
|---|---|---|
| Napa County | Sonoma County | |
| Properties Currently on Market | 10 | 18 |
| Sold | 1 | 1 |
| Vineyard Size Range | 10 - 50 Acres | 10 - 200 Acres |
| Price Range | $3.9m - $9.8m | $1.9m - $26.8m |
| Click link for list of properties and details | NAPA | SONOMA |
| House with 10 Acres or More of Vineyard | ||
|---|---|---|
| Napa County | Sonoma County | |
| Properties Currently on Market | 12 | 24 |
| Sold | 5 | 6 |
| Vineyard Size Range | 10 - 64 Acres | 10 - 66 Acres |
| Price Range | $1.9m - $30m | $1.9m - $32.5m |
| Click link for list of properties and details | NAPA | SONOMA |
| Wineries / Entitlements | ||
|---|---|---|
| Napa County | Sonoma County | |
| Properties Currently on Market | 4 | 7 |
| Sold | 2 | 1 |
| Capacity Entitlement | 1,200 - 20,000 Cases | 3,000 - 40,000 Cases |
| Price Range | $2.9m - $30m | $4.5m - $19.8m |
| Click link for list of properties and details | NAPA | SONOMA |
The good news is that special properties, vineyards, wineries, and brands with cachet and positive cashflow are still in demand. The not so good news is that everything else will take time. Properties that are turn-key and more heavily weighted towards lifestyle will fare better during this market.
For now, we don’t know exactly how long this trend will last or when it will turn. Based on experience we do know that eventually it will end, and the market will start going the other way. It is my opinion that wine is eternal, and we happen to make some of the best wine in the world. I hope you found this information helpful and if I can be of any assistance please reach out if with any questions.
Cheers!
David Ashcraft
Some additional articles that might be helpful:
Exploring the Côte-d’Or in Burgundy France
What’s Past is Prologue in a Bifurcated Real Estate Market
What is a vineyard really worth? It depends.
Wine Country Real Estate Building Blocks
Looking to Buy A Winery, Start Here
If you are serious about your wine country search, please contact us today. Last but least, here is link to more local resources.
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