This report is generated after the 10th of each month once the previous months numbers have been posted. What we see here is a report generated for the Solano County Housing Market through March 2022. So we are always looking a month behind. Our statistics are derived from the Bay Area Real Estate Information Services (BAREIS) This is the Multiple Listing Service provider for all real estate brokerage in Solano County. You can see an in depth market profile that is live 24/7 here If you have questions or wish to know a more specific account of your properties value and the timing of either selling or buying we are always happy to jump on a Zoom or meet with you at your property to evaluate and discuss a strategy. We can be reached via cell/text 707.580.3499 or email us at concierge@elitepartnersrealestate.com
Do you feel like things are slowing down? I hear this constantly this time of the year having just come out of what is always a seasonal lull of the market slowing from November through February. March is always a strong month for bounce back numbers as we head into the Spring selling season. Some economist predict with the rising interest rates home prices will have to come down a bit. This will depend heavily on inventory levels. The real demand lies in the demand for housing. For as long back as we can remember demand has out weighed inventory. Even back in the recessionary period buyer demand was very strong. It was lack of loan options that slowed the buyer demand not the actual buyers.
We do see that for the first time since March 2020, we have an increase in inventory levels with a 47.9% increase year over year (241 new listings), which is a potential start more inventory coming to the market which would meet some of the buyer demand and ease pricing. We did sell more homes (354 home sales) then we listed even though it was -17.9% less year over year. So even if the pace slows the demand should still be strong. It will be interesting to see what April brings and if inventory levels continue to rise.
We did hit an all time average sales price high of $648,000 (+13.3%) year over year. While this is an all time high the increase is less than previous months. With our Days On Market (DOM) at 26 (-3.7%) and our sold price to listed price is +102% there does not seem to be much of a slow down is any.
The opinions expressed in this report are those of Don McDonald, Founding partner, and REALTOR with RE/MAX Elite Partners brokered through RE/MAX Gold. They are not in any way intended to express what RE/MAX, RE/MAX Gold or any other agent or brokerage may think. It is my honest analysis backed but some market data. Check back each month around the 25th or so for an update as we continue down this path.
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Mike Martin and The Elite Partners were a great help in finding our first home , he answered all our questions and was honest on what he could and couldn’t do. When we contacted him he got back to us within a few hours which was great , it made the whole process less stressful and fore the most part pretty easy. We love our new home and would happily recommend Mike and the RE/MAX Elite Partners.
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