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3rd Quarter Home Sales For Solano County: Just About What We Expected
October 13th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
If your appetite for statistics wasn’t satisfied with my previous post showing the final monthly numbers for September, hopefully this post will satisfy your hunger.
Since a quarterly report covers a much larger sample size than just one single month, they’re usually far more relevant and offer a better snapshot of what’s really happening in the marketplace.
Overall, the 3rd quarter home sale numbers for Solano County were pretty much in line with what I expected, based on what we’ve been seeing in the field: continued stronger sales along with some long-awaited price appreciation.
As the above chart illustrates, all five cities in our Solano County market area saw their median price increase from what it was in Quarter 2, essentially reversing the price drop that occurred between the first and second quarters.
The total number of sales for the 3rd Quarter was slightly lower than it was in Quarter 2. But the inventory of homes declined dramatically during the third quarter; so really no big surprise there either.
The raw city-by-city numbers for Total Sales and Median Sales Price:
Curious about how the most recent quarter compares to the same period a year ago? Be sure to download our custom Quarterly Year-To-Year Comparison Report, which compares the 3rd Quarter of 2009 with Q3 of 2008.
A few highlights from that report:
- Vallejo (+29%) and Benicia (+26%) were #1 & #2 in the county in increased sales over Q3 of last year.
- Vallejo (-36%) and Fairfield (-24%) saw the biggest price decline over the same period in 2008. The raw numbers: Vallejo $225,000 in ‘08 and $145,000 in ‘09; Fairfield – $270,000 in ‘08 and $204,500 in ‘09.
- Benicia was the only city in the county with a single-digit price decline. Its median price fell only 6% between the 3rd quarter of 2008 ($410,000) and Q3 in 2009 ($185,00).
- Benicia also saw its average days-on-market slashed in half compared to a year ago.
- Suisun was the only city with fewer sales in the 3rd quarter of 2009 than it had in Q3 of ‘08.
FURTHER READING
- REOs Can’t Tell You Who To Use Any More…Or Can They?
- The Tax Credit Clock Is Ticking For First-Time Buyers
- Will New FHA Appraisal Rules Mean More Headaches?
- 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?
- Is Better To Pay Points Or Take A Higher Interest Rate?
MARKET UPDATES
- Monthly Solano Real Estate Report – Sept. ‘09
- Monthly Solano Real Estate Report – Aug ‘09
- Benicia & Vallejo Home Sales Report — Sept. ‘09
- Benicia & Vallejo Home Sales Report — Aug ‘09
- 2nd Qtr Solano County Home Sale Statistics
- See The Latest Market Update
