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Solano County April Home Sales Totals Are In: Monthly Report Confirms Market Surge

May 6th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

For the fourth month in a row, real estate sales throughout most of Solano County were up dramatically over a year ago. solano-sales-april-09-click-here

And that combined with the continued reduction in the number of homes available for sale adds more credence to the notion that most of Solano County has probably already bottomed out.

In the lowest price ranges, we continue to see multiple offers and bidding wars, as eager first time buyers and opportunistic investors remain very active in the local real estate market.

Sales Up Dramatically Over April 2008

Compared to last April, sales county-wide were up 177% in April ‘09. Suisun City and Vallejo led the way, with sales increases of 235% and 223% respectively.pull-quote3

Benicia was the only city that didn’t fare better this April than a year ago. But Benicia only had one less sale in April ‘09 than in April ‘08, so the fall-off wasn’t very dramatic.

Almost As Strong As March

April was the second strongest month of what so far has been a very strong year for real estate sales in Solano County. Only March had higher sales totals than April.

April also marked the third consecutive month that Vallejo has tallied 200+ sales. In fact, Vallejo’s total for April (219) ranks as the single highest sales total of any city in the county so far this year.

Median Price Way Down

While sales are up dramatically, prices are down just as dramatically, which in turn has helped fuel the market surge.

County-wide, the median price for April was $175,000. City by city, here’s how they fared, from the lowest to highest median price:

  • Vallejo — $117,000
  • Suisun — $170,000
  • Fairfield — $205,000
  • Vacaville — $220,000
  • Benicia — $360,000

As you can see, you could buy three median priced Vallejo homes for the price of one median-priced Benicia home. Benicia and Fairfield (includes Green Valley) saw their median prices increase over last month, while the other three cities saw their median price drop in April.

To read the detailed April ‘09 reports, click here.

There are three reports:  1) that shows the lowest/highest/median prices and total overall sales/distress sales/pending sales for each city in the county; 2) a report that compares total sales for each city month-by-month for 2009; and 3) a report that compares April 2009 with April 2008.

I prepare these customized detailed Solano home sales statistics every month, along with quarterly sales statistics four times a year. So be sure to check back next month to see whether sales remained strong in May.

Throughout the month, I also regularly post a number of articles and reports that are designed to keep you updated on the local market. If you’d like to receive these updates automatically, either via email or your Feed Reader, click here.

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This entry was posted on Wednesday, May 6th, 2009 at 10:08 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.

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