Nov-Dec 2-month Year to Year Sales Report

The following data shows a 2-month average and year to year sales comparison for all of Northern Solano County.

Home sales in Solano County have increased dramatically, over 200%, having the affect of reducing the over abundant inventory of a year ago. However, home prices have continued to decline over 30% compared to one year ago.
If you have more questions about the current real estate market, your homes value, or would like to free home valuation contact any of our qualified agents with Century 21 Distinctive at http://www.century21dp.com/.

Summary

• 271% increase in homes sold Dec 2007 to Dec 2008
• 256% increase in homes sold Nov 2007 to Nov 2008
• 36% reduction in sale price Dec 2007 to Dec 2008
• 33% reduction in sale price Nov 2007 to Nov 2008
  

DECEMBER 2007 - TOTAL PROPERTIES SOLD: 130

• Avg List Price: $401,391
• Avg Sale Price: $381,286
• Avg DOM: 104

NOVEMBER 2007 - TOTAL PROPERTIES SOLD: 126

• Avg List Price: $397,339
• Avg Sale Price: $378,818
• Avg DOM: 100

DECEMBER 2008 - TOTAL PROPERTIES SOLD: 353

• Avg List Price: $256,529
• Avg Sale Price: $247,158
• Avg DOM: 80

NOVEMBER 2008 - TOTAL PROPERTIES SOLD: 321

• Avg List Price: $263,465
• Avg Sale Price: $255,650
• Avg DOM 75

Blog written by Keith Thompson

Keith Thompson is a REALTOR/E-pro with Century 21 Distinctive in Vacaville. To find out more about Keith, visit his website at www.DKthompson.com or email Keith at Keith@DKthompson.com

New Home Sales up 2.7% in September

Nationally sales of newly constructed homes is up 2.7% in September. Reported by the U.S. Census Bureau, sales of 464,000 homes (annualized) surpassed the estimates of 450,000 and up from the 17 year low reached in August.

Regions with greater price drops have seen even bigger gains in recent home sales. The west coast, for example, has found some areas with new home sales reaching 22%.

These increased sales are a result of builder incentives and slowed construction during a turbulent market. Buyers in the market for a new home have dramatically benefited from these programs, and sellers will start to see the benefit as inventory is decreased and time on market decreases. Traditionally resale home trends have followed those of new home sales.

Remember - The primary factor influencing home sales is jobs! Look to regional and national jobless rates to see and predict where home sales will increase or decrease in coming months.



posted by Keith R. Thompson
Keith Thompson is a REALTOR/E-pro with Century 21 Distinctive. You can contact Keith directly via his website at www.DKthompson.com or via email at keith@dkthompson.com.

Fairfield Market Report

Statistical Market Analysis for Fairfield - September 2008

ACTIVE listings: 735
Avg ACTIVE price: $317,993
Median ACTIVE price: $234,900
Avg ACTIVE days on market: 96

PENDING sales: 199
Avg PENDING price: $280,412
Median PENDING price: $239,900
Avg PENDING days on market: 64

Properties SOLD: 124
Avg SOLD price: $247,303
Median SOLD price: $245,000
Avg SOLD days on market: 79

Check back here each month to see updated market statistics and trends in the Fairfield real estate market. We provide this information to help consumers make informed decisions regarding real estate and financial goals. To discuss this information in detail, contact any one of our trained REALTORs with Century 21 Distinctive at 707-429-4800.



Posted by Keith Thompson
Keith Thompson is a REALTOR/E-pro with Century 21 Distinctive in Vacaville. For more information about Keith go to his personal website at http://www.dkthompson.com/ or contact him via email at keith@dkthompson.com

Our New Website

We are proud to introduce our new Public Website.

Please visit www.century21dp.com where you can search all the MLS properties in Solano County and West Sacramento. With our new site, you can search on an interactive map where you can see the location of the home, the details of the home for sale, and even schedule a showing right from our website. The new tools put the user in charge. We really want our website to be your one stop shop for all your realestate research needs when looking to buy or rent a home in Fairfield, Vacaville, Benicia, Dixon, Davis, or any other city or town in Solano Area.

Also, on the site, you can access discounts from local vendors and get detailed information on the communities we service, research our agents, or simply browse the housing market.

Time to Buy in Solano County????

It’s a buyer’s market for sure! Many Buyers, however, are playing “the waiting game”, believing that prices will drop in Northern CA (and specifcally in Solano County)

THE COST OF WAITING

While it’s true that in certain areas the prices are still dropping, there are some areas stabilizing and in a few areas where prices have hit bottom, where prices are actually increasing. The interest rates seem to be holding steady for the moment but are expected to increase by early next year. A 6-month mortgage history shows the rate steadily increasing (go to Bankrate.com or MortgageNewsDaily.com for more info).

So, Why Buy Now While Interest Rates Are Low? Well a 1/2 point increase on a 30 year loan based on the average home price in solano county could mean as much as $40,000 in additional interest paid over the life of the loan.

While none of us have a crystal ball as to what will happen in Fairfield, Vacaville, Dixon and the other areas of Solano County, one thing is for sure - over the long term, Real Estate is still the best and most secure investment in the US.