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Vallejo & Benicia Home Sales For August — Details On EVERY Closed Sale Last Month
September 17th, 2009 categories: Benicia, Market Update, Vallejo
We were on vacation from the middle of last week until Tuesday, so this month’s recap of last month’s home sales for
Benicia and Vallejo is a little tardier than normal. I had hoped to post this before we left town, but you know what they say about best laid plans.
As I do every month, I’ve tabulated the closed sales for both cities, so you can see details on every closed home sale, complete with bedrooms, baths, square footage, days on market and closing date — plus original list price, final list price and actual sales price.
There’s also a column showing whether or not it was a distress sale and another column that calculates the net price change from list date to closing date.
So if you’re curious about a home that sold in your area, Click Here for the August ‘09 Benicia report. Or Click Here for the August ‘09 Vallejo report.
Some highlights from this month’s reports:
- Benicia had 26 sales last month. Of those, 11 were distress sales (5 REO’s and 6 short sales).
- Vallejo had 185 sales in August. All but 28 were distress sales (131 REO’s and 26 short sales).
- The least expensive home that sold in Benicia was a townhome on Sunset Circle that closed at $160,000. The highest sales price last month in Benicia was a home on West C St. that sold for $575,000.
- Vallejo had the least expensive closed sale in the county last month. That honor went to a condominium on N. Camino Alto that closed at $27,700. The highest Vallejo sales price was for a home on Rushcreek Pl. in Hiddenbrooke that closed for $445,000 (the only Vallejo home sale over $400,000 last month).
- More than half (96) of Vallejo’s 185 August home sales sold for MORE than their original asking price. That adds further credence to the notion that Vallejo’s prices have already bottomed out and that prices are at long last starting to head north.
- Still, over 1/3 of the homes that closed escrow in Vallejo last month (71), sold for LESS than their original asking price. And that adds credence to the notion that, while things are indeed looking up, we’re still not out of the woods just yet.
- In Benicia, meanwhile, only 5 of its 26 sales (less than 20%) sold for more than its original asking price, while almost 70% sold for less than its starting price.
- The biggest net price reduction in Benicia was a whopping $206,000 — for a home that closed at $492,000 on East I St. It started out at $698,000 almost a year earlier.
- That’s nothing compared to a home on Capitol St. in Vallejo, which sold for $215,000 last month. That home had been on the market for over two years and ultimately sold for — are you ready for this — $533,500 BELOW it’s original asking price.
FURTHER READING
- Are Home Prices Finally Heading North?
- Are Short Sales Really Selling In Solano County?
- First-Time Home Buyer Tax Credit Almost Gone?
- Are We In An Artificial Boom Market?
MARKET UPDATES
- Monthly Solano Real Estate Report – Aug ‘09
- Monthly Solano Real Estate Report – July ‘09
- Benicia Home Sales — July ‘09
- Vallejo Home Sales — July ‘09
- 2nd Qtr Solano County Home Sale Statistics
- See The Latest Market Update
