"Vineyard land in the valley is now going for about $300,000 to $350,000 an acre on average, says Cyd Greer, a real estate agent with Coldwell Banker in St. Helena who specializes in vineyards, wineries and luxury properties. Of course, Greer emphasizes, prices range widely, “and it all ties back to the price of the wine that comes from the property.” She recently sold a 10-acre property on Diamond Mountain, which already had a vineyard planted, for $6.5 million.

“The market is stronger than it’s ever been,” Greer says, “and we’re not expecting a slowdown.” Whereas 10 acres was once the minimum parcel size that most prospective vintners would consider, they’re now willing to settle for smaller plots, she says, and areas that were previously not considered the most elite vineyard zones — Oak Knoll and Coombsville, for instance — are suddenly red-hot."