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Solano Weekly Real Estate Report For Aug 10: Inventories Drop, Strong Sales Continue

August 10th, 2009 categories: Benicia, Fairfield-Gr Valley, Market Update, Solano, Suisun City, Vacaville, Vallejo

weekly-solano-home-reportI know that this is probably starting to sound like a broken record, but if you liked last week, you ‘re sure going to like this week, too.

For the umpteenth week in a row, home sales in Solano County remained strong as the supply of homes in four of the five cities in our Solano market area saw their inventories drop yet again.

Vallejo saw the biggest decline in its inventory, with a net loss of 15 homes compared to last week. For the year, Vallejo has seen is supply of active listings drop by a staggering 73%, a number that’s bettered only by Suisun (76%).

The market shows no signs of letting up, despite continued rumblings that more foreclosed properties may come on the market soon.

We’ve been hearing those murmurs ever since the foreclosure moratoriums were lifted at the end of March. But so far, we haven’t seen any dramatic increase in the county’s housing supply. Instead, the inventory county-wide has continued to fall.

Some highlights from this past week:

  • Vallejo’s inventory now stands at 235, a far cry from Jan. 12, when it had 899 homes for sale.
  • In mid-January, Vallejo had almost 200 more active listings than Fairfield-Green Valley. Today only a mere 9 listings separate its inventory from that of FF-GV.
  • Fairfield was the only city to see its inventory climb last week. It had a net gain of six active listings.
  • Vallejo and Fairfield each had at least 50 new pending sales this past week. For Fairfield, that’s the second highest total this year.
  • Benicia had 11 new pending sales last week. That’s almost double its year-to-date average (5.6/week).

Our Solano County Real Estate Sales Report appears on HomeSection.com weekly — it’s usually posted on Monday or Tuesday. To download this week’s full report, click here .

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This entry was posted on Monday, August 10th, 2009 at 9:36 pm and is filed under Benicia, Fairfield-Gr Valley, Market Update, 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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