April 2022
Solano Market Report
What's your home actually worth
IN TODAY'S MARKET That really is the question to ask yourself. Our market is incredible diverse and changes rapidly. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors is. And at the end of the day, the current market sets your homes's value. So, do you know what your home is worth in today's market?
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Contact me for a confidential, no obligation, assessment of your home's value.
April 2022
Why a Real Estate Professional Is Key When Selling Your House With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people who list their houses on their own, known as a FSBO or For Sale By Owner, has reached its lowest point since 1985. Here are five reasons why selling with a real estate professional makes more sense, even in today’s hot market: 1. They Know What Buyers Want To See 2. They Help Maximize Your Buyer Pool 3. They Understand the Fine Print 4. They’re Trained Negotiators 5. They Know How To Set the Right Price for Your House There’s a lot that goes into selling your house. Instead of tackling it alone, reach out to a trusted real estate advisor to make sure you have an expert on your side throughout the entire process. Read more here.
Solano
What's in the Solano data? Solano’s median sold price for single-family homes slightly increased month-to-month to $600,000. The number of homes sold was 276 while the number of new listings was 594. The number of condo & townhouses sales is at $387,000 with 44 new listings and 29 homes sold. This time of year, the demand (buyers) is higher than the supply (sellers) making the market more competitive. While temperatures start to rise, the market will begin to surge. With higher inflation, interest rates may rise, creating countervailing downward pressure on home prices due to the resulting higher monthly payments.
594 New Listings
276 Sold Listings
0.5 Months of Inventory
$600K Median Sale Price
101.80% Median Sale vs List
16 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from BrokerMetrics for the period 03/2021 thru 03/2022. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams San Francisco. 415.483.9285 DRE# 01995149 | DRE# 01906450 Copyright Keller Williams San Francisco | Peninsula Estates 2022. Each Office is independently owned and operated.
44 New Listings
29 Sold Listings
0.6 Months of Inventory
$387K Median Sale Price
101.50% Median Sale vs List
Solano at a glance
25 CONDOS & TOWNHOMES
Avg Days on Market
20 21
Au gu st 20 21 Se pt em be r2 02 1 O ct ob er 20 21 N ov em be r2 02 1 De ce m be r2 02 1 Ja nu ar y 20 22 Fe br ua ry 20 22 M ar ch 20 22
20 21
20 21
20 21
20 21
20 21
20 21
20 21
Au gu st 20 21 Se pt em be r2 02 1 O ct ob er 20 21 N ov em be r2 02 1 De ce m be r2 02 1 Ja nu ar y 20 22 Fe br ua ry 20 22 M ar ch 20 22
Ju ly
Ju ne
M ay
Ap ril 20 21
M ar ch
SALE VS
Ju ly
Ju ne
M ay
Ap ril 20 21
M ar ch
LISTINGS FOR SOLD LISTINGS
SOLANO MARCH 2021 - MARCH 2022
1,250
1,000
750
500
250
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
100
75
50
25
0
CONDOS
Last 12 months, year-over-year
SOLANO COUNTY APR 2022
$600,000
The median sales price is up $542k from Mar. 2021 to $600k on Mar. 2022.
$400,000
$200,000
Condos & Townhomes
20 21 Ap ril 20 21 M ay 20 21 Ju ne 20 21 Ju ly 20 21 Au gu st Se 20 pt 21 em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 Ja 1 nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22
$0
The median sales price has slightly increased from $287k last Mar. 2021 to $387k on Mar. 2022.
M ar ch
MEDIAN SALES PRICE
Single Family Homes
50
Single Family Homes The average days on market is down from 25 days last Mar. 2021 to 16 days by Mar. 2022.
30
20
Condos & Townhomes The average days on market last Mar. 2021 is 28 days down to 25 days on Mar. 2022.
10
20 21
Ap ril 20 21 M ay 20 21 Ju ne 20 21 Ju ly 20 21 Au gu st 20 Se 21 pt em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 1 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22
0
M ar ch
AVG DAYS ON MARKET
40
125%
Single Family Homes 100%
The overbid percentage is up to 103.50% last Mar. 2021 which increases to 101.80% a year later.
75%
50%
The overbid percentage has gone up from 102.10% last Mar. 2021 to 101.50% a year later.
25%
20 21
Ap ril 20 21 M ay 20 21 Ju ne 20 21 Ju ly 20 21 Au gu st 20 Se 21 pt em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 1 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22
0%
M ar ch
OVERBIDS
Condos & Townhomes
Keller Williams Peninsula Estates 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 Keller Williams San Francisco 1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 Keller Williams Palo Alto 505 Hamilton Ave Suite #100, Palo Alto, CA 94301 Keller Williams Napa 951 California Boulevard, Napa, CA 94559