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Weekly Solano Real Estate Report For Dec. 21: Eager Buyers Keep The Market Alive
December 22nd, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
If you read last week’s Solano Real Estate Report, this week’s edition is going to sound very similar.
That is, if you tried to gauge the time of year by the amount of real estate activity and not the temperature outside, you’d never know it was December.
Even though there are now just 10 days left before 2009 bows out, the real estate market, which typically goes into hibernation by this time of year, is still humming along.
Last week’s sales and pending sales statistics bear this out quite clearly, as all five cities in our Solano County market area continued to report sales numbers either at or very close to their year-to-date averages.
Vallejo, for example, had its second highest number of newly pending sales since late September and was only 4 pending sales away from its YTD average.
Benicia, meanwhile was just a tad above its year-to-date average for both pending and closed sales.
The story was similar in Fairfield, Suisun and Vacaville, too.
The inventory this week was up slightly in the three North County cities and down in Benicia and Vallejo.
Why is this year so different from years’ past, you ask?
Three words: Supply and Demand.
The supply county-wide dropped has dropped substantially from where it was earlier this year. And the demand has remained at fever-pitch levels for most of that time, thanks to low prices, record-low interest rates and the first-time home buyer tax credit.
The inventory is still 75% below where it was in January in Suisun. And it’s 73% lower in Vallejo over that same period. The other three cities in our Solano market area: Fairfield — (-66%), Vacaville — (-52%), Benicia — (-16%).
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, with week-by-week details for every city in our Solano County market area, click here.
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MARKET UPDATES
- Monthly Solano Real Estate Report — Nov. ‘09
- Benicia & Vallejo Home Sales Report — Nov. ‘09
- 3rd Qtr Solano County Home Sale Statistics
- 2nd Qtr Solano County Home Sale Statistics
- Monthly Solano Real Estate Report — Oct. ‘09
- Monthly Solano Real Estate Report – Sept. ‘09
- Benicia & Vallejo Home Sales Report — Oct. ‘09
- Benicia & Vallejo Home Sales Report — Sept. ‘09
- See All Archived Market Updates
