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Weekly Real Estate Report For July 27: Is The Inventory Up Or Down Where You Live?
July 30th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
I’m back in the office after a week of recharging the battery in Arnold, CA. Up in the forested area where we stayed, we were completely “off-line”…no cell coverage and no internet access. Talk about roughing it!
It really felt as if I’d turned back the clock about 15 years. But being out of touch for a week sure forced me to relax, which wasn’t a bad thing!
Okay, enough about “my summer vacation”…
While I was away, the inventory throughout Solano County moderated throughout most of the county. Fairfield was the only exception: its supply of homes dropped a stunning 13% over the past two weeks.
In Benicia, Vallejo, Suisun and Vacaville, the change was nominal — with the current inventory only almost identical to what it was two weeks ago.
For the year, the inventory remains way down over what was in early January. The year to date numbers as of right now:
- Vallejo — Down 70% (267 current active listings)
- Suisun — Down 75% (58 actives)
- Fairfield — Down 68% (221 actives)
- Vacaville — Down 50% (207 actives)
- Benicia — Down 23% (82 actives)
Sales remain very strong, with multiple offers on many properties. Recently, I was planning to show a home to a client that had 35+ offers on it, with some as much as $100,000 ABOVE the asking price. Earlier this week, I heard about another property that supposedly had almost 50 offers on it.
So with inventory down and demand high, the market continues to show more and more signs that the bottom is definitely behind us. I still stand by my April call that we bottomed out in March.
Each week, I publish our Weekly Real Estate Report for Solano County. To see this week’s Full Report, Click Here.
RELATED READING
| 2nd Qtr Solano County Sales Statistics |
| Monthly Solano Real Estate Report – June ‘09 |
| Benicia Home Sales — June ‘09 |
| Vallejo Home Sales — June ‘09 |
| Solano County 2nd Quarter Home Sales |
| See The Latest Market Update |
| When Were Prices Last This Low? |
