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Housing Inventory Up Again In Vallejo Last Week; Benicia, Fairfield & Vaca, Too
January 19th, 2010 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
All trends have to start somewhere, don’t they?
Last week, Vallejo’s inventory jumped 16%. And this week, it was up another 6%. That’s a 23% increase in just two weeks — from 242 to 299.
Benicia was up 7.3% this past week, boosting its supply to 88 active listings.
Elsewhere in the county, Fairfield was up 5.4% and Vacaville was up 4.8%. Suisun was the only city in our Solano County market area where the inventory dropped — although that decrease was only by a single home.
Download This Week’s Solano Real Estate Report
But the biggest news is still Vallejo — where the inventory hasn’t been this high since mid-June of last year.
You have to go all the way back to June 15, when there were 322 homes on the market, to find a week with as many homes on the market in Vallejo as there are right now.
All told, Vallejo had 53 new listings last week, but after taking account the newly pending sales for the week, there was a net gain of 18 new listings. Of those 53 listings, almost half (23) were REOs. Another 19 were short sale listings. And the remaining 11 were traditional “fair-market” sales.
So we definitely are starting to see at least a gradual increase in foreclosure listings, which we’ve been expecting for many months now. I wouldn’t call it a flood of listings, but rather a small trickle.
Whether this trickle will gain momentum and turn into a steady flow is still anyone’s guess. This could still just turn out to be a short two or three week blip on the radar.
Or it could turn out to be the beginning of a longer-range increase in the local housing supply.
Be sure to check back next week for another installment in this potentially emerging story.
Our Solano County Weekly Real Estate Sales Report appears regularly at HomeSection.com. Be sure to download the current report to get week-by-week details on every city in our Solano County market area. And, for the complete report for 2009, click here.
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MARKET UPDATES
- 4th Qtr Solano County Home Sale Statistics
- Monthly Solano Real Estate Report — Dec. ‘09
- 3rd Qtr Solano County Home Sale Statistics
- Monthly Solano Real Estate Report — Nov. ‘09
- Benicia & Vallejo Home Sales Report — Nov. ‘09
- Monthly Solano Real Estate Report — Oct. ‘09
- Benicia & Vallejo Home Sales Report — Oct. ‘09
- See All Archived Market Updates
