North American winemakers are having a near perfect harvest this year in stark contrast to their European counterparts, who have suffered from bad timing and worse weather.

In Portugal some vineyards are reporting yields down 40 percent and in parts of Burgundy in France hail storms have destroyed nearly 80 percent of the harvest.

But in California's Napa Valley, after three years of below average temperatures and inopportune rain, winemakers are enjoying a banner year.

"Neither too early, nor too late; neither too hot, nor too cold, 2012 looks to be the 'Goldilocks' vintage, where everything is just right," said Christopher Howell, general manager of Cain Vineyard and Winery, referring to the story book character.

The good fortune is not limited to Californians. Winemakers in Oregon, Washington, New York state and Canada are also excited by this year's harvest.

Josie Tyabji, head of the British Columbia Wine Institute in Canada, said it has "come in right on time," and although it is a bit earlier than normal in Oregon's Willamette Valley, winemaker Luisa Ponzi says she has no complaints.

For more, see: New World rises to the challenge of Europe's poor wine harvest