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Weekly Real Estate Report For June 29: Six Months Under Our Belts…And What A Change
June 30th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Solano, Suisun City, Vacaville, Vallejo
We’re right at the half-way point for 2009 and if you look at the inventory of homes and weekly pending sales for Solano County, it’s hard to believe how much has changed since the first of the year.
If you follow this blog on a regular basis, you’ve watched the inventory plummet and home sales increase — a trend that really started to gain momentum throughout most of the county in late January/early February.
Back in mid-January, Vallejo, Fairfield and Suisun City had 899, 719 and 240 homes on the market respectively. Today, they all have about a third of those numbers: Vallejo-282; Fairfield-245; Suisun-55.
Throughout most of the past 5-1/2 months, those three cities and Vacaville have steadily seen their available home supplies dwindle, as sales increased and the number of foreclosures diminished.
Benicia was a late bloomer in the inventory reduction game, mainly because its prices are so much higher than the rest of the county that investors and first-time buyers didn’t see as many opportunities in Solano’s southern-most city as they did in the county’s more affordable communities.
Some highlights from this week’s report:
- Vacaville was the “loss-leader” with a decrease of 21 homes in its housing supply. There were also 35 new pending sales and 27 closed sales last week — both are high-water marks for the year.
- Suisun had the greatest percentage decline in its housing inventory for the month — with a 25% drop. For the year, Suisun’s supply is down by more than 75%.
- Benicia’s inventory has stayed fairly steady — generally in the mid-to-high 80’s — over the past eight weeks. It stands at 87 right now.
- Vallejo’s inventory has dropped by more than 2/3 since early January. For the week, it shaved another 4% off its housing supply.
- Fairfield/Green Valley was the only city in the county to see its inventory of homes climb last week — with 6 more listings than the week before. That’s the first time in 19 weeks that Fairfield’s supply has increased.
Each week, I publish our Weekly Real Estate Report for Solano County. To see this week’s Full Report, Click Here.
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Coming Next Week: Solano’s June & 2nd Qtr Home Sale Stats
