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Solano County Real Estate Report For Oct. 12: Vallejo & Suisun Hit YTD Inventory Lows
October 13th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
As the headline above cries out, the big news in Solano County real estate this week was that Vallejo and Suisun City each saw their housing supplies drop to year-to-date lows.
Vallejo, which boasted 899 homes for sale in early January, now has but 213 active listings. And Suisun, which had 240 homes on the market back in January now has a mere 49.
The other big news was also in Vallejo, which had its fewest number of closed sales (20) for any week since at least mid-February (when I started tracking that statistic). The previous low was 35 weeks ago (Feb. 15) when Vallejo had 21 sales for the week.
Since that time, Vallejo has averaged 37 closed sales a week. So with only 20 sales last week, that’s definitely big news. But I wouldn’t call it a slowdown by any means — not with almost every new listing getting multiple offers right off the bat.
Rather, I think it’s a combination of there being fewer homes to sell and a higher-than-average number of closings for the previous week, since some buyers who otherwise would have closed in October probably opted to close at the end of September instead.
With this week’s inventory totals, three cities — Suisun, Vallejo and Fairfield — all have now seen their housing supplies drop by at least 70% for the year.
The totals, in descending order, for all five cities in our Solano market area:
- Suisun -79%
- Vallejo -76%
- Fairfield -70%
- Vacaville -51%
- Benicia -23%
Our Solano County Real Estate Sales Report appears at HomeSection.com weekly — it’s usually posted on Monday or Tuesday. To see the full report, click here.
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MARKET UPDATES
- 3rd Qtr Solano County Home Sale Statistics
- 2nd Qtr Solano County Home Sale Statistics
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- Benicia & Vallejo Home Sales Report — Sept. ‘09
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- See All Archived Market Updates
