Categories
- Buying
- Benicia
- Investors
- Vallejo
- Solano
- Contra Costa
- Selling
- Market Update
- Loans / Financing
- Foreclosures / Short Sales
- Local Stuff
- Fun Stuff
- Vacaville
- Fairfield-Gr Valley
- Suisun City
- The Economy
- Viewpoint
- New Listings
- Resources
Archive
- July 2011 (1)
- June 2011 (2)
- May 2011 (2)
- April 2011 (3)
- March 2011 (6)
- February 2011 (4)
- May 2010 (5)
- April 2010 (30)
- March 2010 (7)
- February 2010 (6)
- January 2010 (11)
- December 2009 (15)
- November 2009 (10)
- October 2009 (20)
- September 2009 (13)
- August 2009 (15)
- July 2009 (10)
- June 2009 (9)
- May 2009 (18)
- April 2009 (14)
- March 2009 (14)
- February 2009 (22)
- January 2009 (21)
- December 2008 (7)
- November 2008 (1)
- October 2008 (2)
- September 2008 (8)
Vallejo CA Home Sales Report For May ‘09 — Details on All 231 Homes That Sold
June 7th, 2009 categories: Buying, Fairfield-Gr Valley, Local Stuff, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
May was a bellwether month for Vallejo, with the median price up 20% — yes you read that right — 20% over what it was in April, 
adding further proof that the market may finally be poised to return to greener pastures.
For the record, the median price a month ago was $117,000. In May it was $140,000. That’s a $23,000 increase — or 19.7% above April’s median (rounded-off: 20%).
One month isn’t a particularly large sample size, so it’s still premature to put too much significance on it, especially since some of the other cities in the county actually saw their median prices drop last month.
Just next door in Benicia, for example, the median price for May was down 7.7% from what it was in April (click here to see Benicia’s Home Sales Report for May). It was also down in Suisun City — by 5.2%.
So it’s really too early to call Vallejo’s May performance the beginning of the end for the bargain hunters, but if the median sales price continues to rise in June and July, by the end of summer we could very well look back and point to May as the beginning of the turnaround.
Okay, onto Vallejo’s numbers for May.
The city saw a whopping 231 homes sales last month – the fourth straight month with 200+ home sales. And May’s total was the highest monthly total of the year so far for any city in Solano County. By comparison, neighboring Benicia had just 22 home sales (one-tenth Vallejo’s total) last month.
Click here for details on each Vallejo home that sold last month.
Some highlights from that report:
- The least expensive home in Vallejo in May was a condominium on North Camino Alto that sold for $27,500.
- The most expensive home was a 3,400 sq. ft. home on Wildwing Lane in Hiddenbrooke that sold for $450,000.
- Of the 231 home sales, 93% (214) were distress sales (either bank-0wned “REO’s” or short sales).
- Only 17 were regular fair-market sales.
- 66 of May’s sales went for less than $100,000.
- 160 homes sold for less than their original asking price.
- The largest price decrease was for a home on Indiana St. that sold for $219,000 — which was $250,000 less than its original list price.
- 56 homes sold for more than the asking price. The most was for a home on Phelan Ave., which sold for $44,000 above its asking price.
- The longest time on the market was for a home on Grant St. that sold for $66,150. It took 572 days (or almost 1.75 years) to sell. Oh, and it sold for $223,750 below its original list price.
RELATED READING
