The Solano County 2016 Spring Housing Market

Selling Your Northern California Home? Get a free home value report 

Buying a Northern California Home? Search all homes for sale

What does the 2016 spring market look like in Solano County? Let’s break it down by town!

• First of all, in Vacaville, there are less than 100 available listings. There’s 99 homes for sale right now. The average price is $394,000. That’s up by 8.5% year over year. We have less than one month worth of inventory overall.
• Fairfield has 140 available listings at about 1.1 months of inventory. $405,000 is the average sales price. The appreciation rate rests at 9.6% year over year.
• In Vallejo, there are 113 listings available. That’s 1.1 months of inventory. $388,000 has been the average sales price over the last year. The city experiences 12.2% appreciation year over year.
• Benicia has only 33 available listings right now with an average sales price of $581,000. There’s also a 7.9% appreciation rate year over year, alongside 1.4 months of inventory.
• In Dixon, there are only 10 homes on the market! That’s only 0.6 months worth of inventory. The apprentice rate is 4.8%. The average sales price is $353,000.
• Suisun has only 19 homes on the market at $315,000 average sales price. Again, this is only about 0.6 months worth of inventory. There’s also a 7.3% appreciation year over year.

Any market with less than six months worth of inventory significantly favors sellers. For instance, homes fly off the market in places with less than a month’s worth of inventory. Any market greater than seven months favors buyers. However, the in-between market, with about six or seven months worth, is considered a balanced and neutral market. In the busier markets, homes receive an average of seven offers and sell well above asking price.

“

There hasn’t been a better time to sell.

”

As a buyer, you need a qualified agent to represent your best interests and understands the seller’s motivation. That person is key for negotiating, for instance. If you can’t compete with the highest price, compete on your terms. That could be meaning avoiding all possible contingencies or maybe even a rent-free rent back.

Meanwhile, if you’re a seller, it’s not as simple as putting a sign in the yard and listing your property for sale. This process requires diligent marketing. Plus, you don’t want your home to sit on the market and have to resort to price reductions. However, there hasn’t been a better time to sell. I’ve never seen a market like this and you definitely don’t want to miss out! I don’t see appreciations sustaining for too long.

If you’re thinking about buying or selling a home in the surrounding area, reach out by phone or email. Stats, like the exact number of homes on the market, changes daily. For the most accurate and up to date info, contact The Andrew Lamb Team. We’d be happy to answer any real estate questions you might have!