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Fairfield Had The Greatest Q4 Home Sales’ Increase In Entire U.S., Says Business Week
March 10th, 2009 categories: Buying, Fairfield-Gr Valley, Market Update, Solano, Suisun City, The Economy, Vacaville, Vallejo
It’s not often that Solano County makes national news. But in a recent article entitled “Signs Of Life From The Real Estate Market,” Business Week magazine, named Fairfield as the city with the largest increase in home sales in the fourth quarter of 2008 in the entire U.S.
That’s pretty heady stuff; not just being singled out by a nationally recognized magazine of Business Week’s stature, but also taking honors as the number one city in the entire country.
According to Business Week, home sales in Fairfield’s 94533 zip code increased 226% in the fourth quarter from the previous year, putting it well ahead of second ranked Rialto, CA’s 92376 zip code (San Bernardino County) which was next with a 170% increase.
After Fairfield and Rialto, Sylmar, CA’s 91342 zip code (149% increase), San Diego’s 92126 (Mira Mesa) zip code (119%), and Florida’s Cape Coral (33914 zip code) with a 103% increase rounded out the top five.
As you might expect, the sunbelt states of California, Arizona, Nevada and Florida were well represented on the Top 25 list, which was compiled by First American CoreLogic for Business Week.
According to the Business Week article, only one zip code from any metro area was considered and only zip codes with at least 10,000 households were included in the study. Otherwise, many other Solano County zip codes likely would have made the list.
In fact, if you look at my article from Jan. 12, where I compared sales for 2008 and 2007, you’ll see that for the entire year, both Suisun City and Vallejo actually had slightly higher sales percentage increases (239% and 227% respectively) than Fairfield’s 219%.
Though I didn’t break it out by zip code or quarter, if Business Week had strictly considered the top 25 zip codes regardless of metro area, Solano County likely would have had three and possibly four (Vacaville had a 125% increase in ‘08 over ‘07) representatives in the country’s Top 25.
When the first quarter numbers for 2009 come out next month, don’t be surprised if some of the numbers in Business Week’s 4th quarter report pale by comparison. As I reported last week, in February alone, Vallejo’s sales were up 476% over the previous February. And in my January report, Fairfield, Suisun City and Vallejo were all up between 294% and 371% over the previous January.
So if March follows suit, Fairfield’s 226% sales increase that Business Week wrote about should easily be eclipsed come April.
Click Here to read Business Week’s Article
Click Here for a Slide Show of the Top 25 Zip Codes
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