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Solano Weekly Real Estate Report For Oct. 26: Inventory Up Slightly, Demand Remains High

October 27th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

weekly-solano-home-reportReal estate activity was fairly constant in our Solano County market area last week, with all communities except Benicia showing a net increase in their supply of active listings.

The biggest increases were in Vallejo (+8) and Suisun City (+7). On a percentage basis, Suisun was up over 13%, as its inventory “soared” from 53 to  60.

In the past two weeks, Suisun has seen its inventory climb from 49 to 60. However, its supply is still down 74% since the beginning of the year.

Even though the supply has crept a little higher in recent weeks, the increase hasn’t been significant. Rather, just a few additional listings here and there, and certainly not enough to satisfy the hoards of hungry home buyers who continue to eagerly wait for an opportunity to buy.

So demand throughout the county still remains very high, with multiple-offers the order of the day for most affordably-priced homes.

A few additional highlights from this week’s report:

  • Benicia (-4) was the only city in our Solano market area with a net decrease in its listings inventory in the last week.
  • With a total of 238 active listings, Vallejo’s total is the highest it’s been since early August, when there were 250 homes on the market. For the year, Vallejo’s inventory is still down 73%.
  • Suisun’s inventory (60) hasn’t been this high since the week of July 6, when there were 70 homes on the market. Since late August, it’s hovered in the low 50s/high 40s.
  • Vallejo’s closed sales numbers seem to have hit a new plateau. In four of the past five weeks, it’s been in the low- to mid-20s. Prior to that, it had been in the 30s and 40s for most of the year. Not really that surprising, though…with a smaller supply, you’d expect fewer sales.
  • Vacaville and Benicia both reported pending and closed sales activity last week that were just about the same as their year-to-date averages in both categories.
  • Fairfield had 15 closed sales last week, which is only the second time since Mar. 1 that it’s been that low.

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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This entry was posted on Tuesday, October 27th, 2009 at 7:16 am and is filed under Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, 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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