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Weekly Solano Real Estate Report For Nov. 9: Fairfield’s Supply Spikes, Benicia Sales Soar
November 11th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
This week’s Solano Real Estate Report was pretty much status quo, but for a few surprising numbers. As the headline indicates, those numbers were in Fairfield and Benicia.
Fairfield’s inventory unexpectedly skyrocketed by more than 10% in one week — from 205 active listings a week ago to 227 right now.
That’s in stark contrast to Benicia, Vallejo, Suisun and Vacaville; the supply this week only differed from last week by four active listings in all four communities.
Benicia’s sales total for the week was also off the charts. After totaling just three sales the previous week, Benicia reported 11 closed sales last week — which is by far the highest total of the year for Benicia.
With an average of 4.6 closed sales per week, Benicia’s previous high this year was 9 — and that had only happened once.
What makes this past week’s 11 closed sales even more surprising is that it occurred during the first full week of the month. That’s usually a week when we see lower sales totals, since many buyers closing around the first of the month often try to close a few days early — at the end of the previous month — so they can lower their closing costs.
For the year, Fairfield’s inventory increase this past week dropped its year-to-date inventory decline to 67% — the first time in quite a while that number has dipped below 70%. With 236 total active listings, Fairfield’s current total is still a far cry from the 719 listings that it had in early January.
The “leaders” in that category remain Suisun (77% fewer listings than in January) and Vallejo (-73%). In sheer numbers, Vallejo leads the way with a net loss of 642 active listings since January, followed by Fairfield (-472), Vacaville (-206 / -49%), Suisun (-178) and Benicia (-24 /-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
- Monthly Solano Real Estate Report — Oct. ‘09
- 3rd Qtr Solano County Home Sale Statistics
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