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Weekly Solano Real Estate Report For Feb. 1: Vallejo, Benicia Inventory Way Up In January
February 4th, 2010 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
More Like A Normal January; A Sign Of Things To Come?
The first month of 2010 is now behind us and judging by the week-to-week performance over the first 30 days of the new year, we may be seeing further signs that a more normal real estate market could be on the horizon.
Last year, of course, was anything but normal. Instead of starting low and building up over the first four months of the year, the local Solano County housing supply started out the year sky-high and then diminished dramatically as the spring evolved.
Inventory Up Everywhere But Suisun
This year, however, things have started out more like a typical year — at least if you go by what we’ve seen over the first month. Four of the five cities in our Solano County market area all saw their inventories grow in January — and by a rather healthy margin, too.
And that’s a good sign, for it’s an early indication that 2010 may at last follow a more typical housing activity pattern.
The housing supply in both Benicia and Vallejo grew by more than 20%. Fairfield was up 11% and Vacaville up 8.5%. The only city that saw its supply drop was Suisun, which inexplicably experienced a 12% decline.
Vallejo’s Inventory Finally Tops 300
Vallejo was the big story, though, where the inventory of active listings topped the 300 mark this week for the first time since last June. Just four weeks earlier, there were 242 homes on the market in Vallejo. Today there are 303. That’s a 25% increase!
Benicia’s overall inventory went from 80 to 96 over that same period — a 20% rise. That’s only the second time its been that high since last June. The previous time was in mid-September.
Sales Activity Remains Strong, Too
Even though the inventory grew last month, sales activity remained high, too. For the year, Vallejo is averaging 38 new pending sales a week, followed in order, by Fairfield (27/wk), Vacaville (17), Suisun (9) and Benicia (3).
Now, I’ll couch all of this with a reminder that we’re only talking about a single month. So 4-6 weeks from now, we could be singing an entirely different tune. But if sales remain strong and the inventory continues to climb as spring approaches, then we might really find that we’re back in a typical real estate pattern after all.
To see the full city-by-city statistics, with week-by-week and monthly breakdowns of the local housing inventory, plus weekly sales activity for each city, be sure to download our full Solano County Weekly Real Estate Report.
We track these statistics every week and publish this report several times each month. So be sure to check back regularly — or subscribe by email or Feed reader and receive these updates automatically.
If you’d like further details on any of these Solano real estate statistics or are interested in buying or selling in this area, please contact us and we’ll be glad to assist you. To see the current inventory of homes in any city in our Solano market area, be sure to visit our Home Search page.
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MARKET UPDATES
- Benicia & Vallejo Home Sales Report — Dec. ‘09
- 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
