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January Gets Off To A Good Start…How Did Your Community Fare?

February 5th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

2009-vs-2009-solano-county-monthly-sales-january1January Home Sales Much Stronger Than A Year Ago Throughout Solano County

January got off to a much better start this year than in 2008, at least if you judge it by comparing the number of homes sales. Whereas 2008 got off to a rather tame start amid softening prices and looming economic worries, 2009 took off right where 2008 ended, with much more robust sales activity, particularly in the county’s most affordable cities.

Last January, for example, there were 164 home sales countywide. This January, there were 153 closed sales in Vallejo alone — further evidence that enough home buyers sense that we’re nearing if not at the bottom of the market.

Such wasn’t the case a year ago, as  most buyers sat on the sidelines wondering where the economy was heading. Well, now those same buyers are eagerly snatching up homes priced hundreds of thousands less than they were just a few short years ago.

I downloaded the raw data and have created several different reports which illustrate how strong January really was.  Fairfield/Green Valley and Suisun City, where the median price home is now $187,450 and $ 188,100 respectively both saw January sales more than THREE TIMES what they were last January. And Vallejo, with a median price of $140,500, had a similar story, with January sales up 294% over a year ago.

Vacaville, with the second highest median price in the county at $262,900, still had almost twice as many sales than a year earlier. Benicia also had more sales than in 2008, but only by a slight margin.

But then, Benicia’s January median price of $450,000 is almost twice that of Vacaville’s and more than three times the median of neighboring Vallejo — proof once more that today’s opportunistic buyers sense that today’s low prices definitely won’t last forever.

I’ve created several different reports:

  • January 2009 Solano Home Sales — A breakdown showing the number of  overall sales, distress sales, and fair-market sales, as well as high, low & median sales prices plus average days-on-market for each city

As you’ll see, the lowest sales price in the county was a $23,750 home in Vallejo, while the highest price honors went to a $1.352 million  home in Fairfield-Green Valley, with distress sale (bank-owned and short sales) properties contributing to the majority of the sales.

Each month, I’ll create a new report showing the sales statistics for homes in our Solano County market area, so be sure to check back for February’s numbers, which will be published in early March.

Remember, too, that I’m always happy to provide more custom and/or more detailed analyses of our market for clients and prospective clients. Just send me an email or give me a call and I’ll get to work!

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This entry was posted on Thursday, February 5th, 2009 at 9:04 pm and is filed under Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Gena Riede said at February 16th, 2009 at 9:21 am

    Congratulations on the Carnival of Real Estate win. I was most impressed with your blog site…the look, the feel and the easy access to information.

    Excellent “tomato” blogsite!

  2. Rod Herman said at February 16th, 2009 at 9:45 pm

    Thanks for the nice comments, Gena. Still working on some of the interior pages on our site; I really appreciate the honor…especially coming from such a respected and expert real estate colleague like yourself!

    - Rod

  3. Sacramento Real Estate Voice said at February 17th, 2009 at 12:42 pm

    Mardi Gras Carnival of Real Estate in Sacramento…

    Welcome to the February 16th 2009 edition of the Carnival of Real Estate.
     Sacramento Real Estate Voice has the honor of hosting and serving as Queen of the Carnival of Real Estate (CORE) #129 where bloggers from around the world submit their best entr…

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