15 Jun Record prices for Napa vineyard land
A recent article in the Napa Valley Register reported what those of us inside the wine industry have known for some time, that the prices paid for the Napa Valley’s choice, limited vineyard land continue to climb at a fever pace. While the article focuses on prices for land on the valley floor, in the hills where development is tightly controlled vineyard land prices are racing upwards even faster. Locales like Pritchard Hill where land is scarce, development strictly limited, and where the cost of any allowable development is higher than anywhere else will continue to set the new high marks in vineyard land prices. Despite the recent rise in prices many compelling opportunities still exist in some of the valley’s most prestigious appellations. Meanwhile those who have recently completed purchases are able to enjoy this rapid rise in value of their newest asset and be part of this continuing wave of Napa Valley price appreciation.