MarketReport Market Report for Solano County February 2023 Copyright by KW Advisors 2023
What’syourhome reallyworthin today’smarket?
That's really the question you should be asking yourself
Our market is incredibly diverse, and rapidly changing Values vary not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors’ home is At the end of the day, it’s the current market that sets the value of your home
So, do you know what your home is worth in today's market? Icanhelp... Contact
me for a confidential, no obligation assessment of your home's value.
LowerMortgageRatesAre BringingBuyersBacktothe Market
As mortgage rates rose last year, activity in the housing market slowed down. As a result, homes started seeing fewer offers and staying on the market for longer. That meant some homeowners decided to pause on selling.
Now, however, rates are beginning to come down—and buyers are starting to re-enter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows an increase of 7% more mortgage applications, as compared to the week before.
Solano County
What's in the Solano County data?
Solano County's single-family housing market saw a decrease to a $566K median sold price, with 190 units sold and 208 new listings. The condo & townhome market has inclined month-over-month, with 22 new listings and 17 sales, totaling approximately $395K. Buyers have remained aggressive with their offer prices continuing to be at around 100%. Only 6% of homes have been completed, so the market has seen a decrease in supply. The surging demand continues driving the cost of buying up, creating an imbalance between the pricing range and active options in the marketplace.
$566K Median Sale Price 67 Avg Days on Market 190 Sold Listings y Homes Metrics, includes all single-family homes, condos and from January 2022 to January 2023. This may include from the time the data was gathered. All data is deemed Questions may be directed to KW Advisors. 415.483.9285 01906450 Copyright KW Advisors 2023. Each Office is
22 New Listings
17 Sold Listings
1.1 Months of Inventory
$395K Median Sale Price
97.6% Median Sale vs List 53 Avg Days on Market
Condo &
CONDO
Townhomes
3 May2023 June2022 July2023August2023September2023October2023November2023December2023January2023 May2023 June2022 July2023August2023September2023October2023November2023December2023January2023 o JANUARY 2022 - JANUARY 2023 FOR SALE SOLD LISTINGS es ear-over-year. mes year-over-year
Median SalesPrice
The median sales price has decreased from $579k last January 2022, to $566k as of January 2023
Condos & Townhomes
The median sales price has increased from $358k last January 2022, to $395k as of January 2023.
Overbids
Single Family Homes
The overbid percentage has decreased from 101% last January 2022, to 99.9% a year later.
Condos & Townhomes
The overbid percentage has decreased from 100% last January 2022, to 97 6% a year later.
Single
The average days on market went up from 35 days last January 2022, to 67 days as of January 2023.
Condos
The average days on market went up from 37 days in January 2022, to 53 days as of January 2023
January2022February2022March2022April2023May2023June2022July2023August2023September2023October2023November2023December2023January2023 $750,000 $500,000 $250,000 $0 January2022February2022March2022April2023May2023June2022July2023August2023September2023October2023November2023December2023January2023 75 50 25 0 January2022February2022March2022April2023May2023June2022 July2023August2023September2023October2023November2023December2023January2023 125% 100% 75% 50% 25% 0%
Single Family Homes
AVGDays OntheMarket
& Townhomes
Family Homes
1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 SanFrancisco 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 PeninsulaEstates 505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto : 951 California Boulevard, Napa, CA 94559 NapaValley
