May 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.
May 2022
Today’s Home Price Appreciation Is Great News for Existing Homeowners In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market. 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 $635,000. The number of homes sold was 323 while the number of new listings increased to 628. The number of condo & townhouses sales is at $447,500 with 43 new listings and 22 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.
628 New Listings
323 Sold Listings
0.7 Months of Inventory
$635K Median Sale Price
103.4% Median Sale vs List
17 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from BrokerMetrics for the period 04/2021 thru 04/2022. 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.
43 New Listings
22 Sold Listings
0.4 Months of Inventory
$447.5K Median Sale Price
102.8% Median Sale vs List
Solano at a glance
22 CONDOS & TOWNHOMES
Avg Days on Market
20 21
20 21
20 21
CONDOS
Last 12 months, year-over-year Ap ril 20 22
20 21
20 21
20 21
Ap ril 20 22
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
SALE VS
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
LISTINGS FOR SOLD LISTINGS
SOLANO APRIL 2021 - APRIL 2022
1,250
1,000
750
500
250
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
100
75
50
25
0
SOLANO COUNTY MAY 2022
$750,000
$500,000
$250,000
$0
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 Ap ril 20 22
MEDIAN SALES PRICE
Single Family Homes The median sales price has gone up from $557.5k last April 2021, to $635k by April 2022..
Condos & Townhomes The median sales price had increased from $325.5k from April 2021 to $447.5k by April 2022.
50
Single Family Homes 30
The average days on market decreased from 22 days last year to 17 days by April this year.
20
Condos & Townhomes 10
0
The average days on market last April 2021 is 28 days down to 22 days the following year.
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 Ap ril 20 22
AVG DAYS ON MARKET
40
125%
Single Family Homes 100%
75%
The overbid percentage has slightly decreased from 104.4% last year tp 103.4% this year's April.
25%
0%
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 Ap ril 20 22
OVERBIDS
50%
Condos & Townhomes The overbid percentage has slightly decreased from 104.3% last year tp 102.8% this year's April.
Keller Williams Napa Valley 951 California Boulevard, Napa, CA 94559
Keller Williams San Francisco 1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 Keller Williams Peninsula Estates 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 Keller Williams Palo Alto 505 Hamilton Ave Suite #100, Palo Alto, CA 94301