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January 21st, 2008 11:29 PM
The year end report is out for Solano County.  It is interesting to compare the statistics for 2007 with those of the last four years.  Looking at number of homes sold we find a large decrease in the number of homes sold last year compared to three years earlier.  In 2004 we find 43,160 homes sold in Northern Solano compared to 18,060 sold in 2007.  The average selling price in 2004 was $397,000; in 2005 it was $480,000; in 2006 it was $497,000 and in 2007, $457,000.  The days on market or the DOM is interesting, 32 days in 2004, 35 days in 2005, 74 days in 2006 and 97 days in 2007.  We see an increase in the number of days it took for a home to sell.  Homes took approximately 30 days in 2004, but closer to 90 days in 2007.  The DOM usually correlates with the number of homes for sale.  When the inventory is high as it is now, homes will take longer to sell.

Posted by Carla Harden on January 21st, 2008 11:29 PMPost a Comment (0)

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