The May 2024 Solano County Market Snapshot
May's market snapshot for Solano County is here!
Below, I'm sharing the latest data on our local real estate market compared to this same time last month.
That way you can see what's really going on in our market to make better-informed decisions.
It's important to me to share this kind of data as the real estate market has definitely been making headlines lately!
So, it's important we take a look at what's going on on our local level.
Average Sales Price = $626K
This price is up compared to last month. This indicates that the average price of homes sold has increased since 2023. If you've been thinking about selling, this could be good news for you!
Days on Market = 39 Days
“Days on market” is how long a home is actively for sale before it goes under contract. Currently, our days on market have gone down since last month. Overall home are taking a little longer to sell compared to this time last year.
# of Homes for Sale = 675 homes
The “number of homes for sale” is an important stat to monitor because it indicates the availability of inventory. Currently, we are up over the last month.
# of Homes Sold = 313 homes
Last month, the number of homes sold remained about the same compared to the month before. As with active listings, this stat can be impacted seasonally and by changes in the market. We’ll continue to monitor how it trends in 2024.
Average Home Value = $354 per sqft
This is the average in our area to close out May for ALL homes. If you're a homeowner, I recommend we closely examine how the market impacted your home's value. Let me know if you'd like a complimentary value estimation for your home!
1-YR Value Change = 5.4%
Overall home values are up over last year. In fact, we're seeing an increase of 5.4%. To put that into perspective, for the past 30 years, we've seen an average appreciation rate of about +4%.
And if you'd like my signature "Real Estate Market Recap" for a different area, please send me an email at michelleperez@sellwithmichelle.com and let me know where!
The information I’m sharing includes:
Data Source: BAREIS MLS
Timeframe: Mar 2023 to May 2024
Housing Type: Residential Homes in Solano County
Click here to see the graphs for this month’s report.
And if you'd like to take a look at another area or have a deeper conversation about whether now's a good time to buy or sell, please reach out to me at (707) 208-2557. I'm only a call/text away and happy to help!
Thank you!
Thank you for joining me this month! As we gear up for the next year, I look forward to bringing you even more tips, trends, and local insights in my email newsletter (subscribe here to get on the list). And as always, if you or someone you know has a real estate need or question, I am always here to help!
Michelle Perez
REALTOR®
Michelle Perez & Associates, RE/MAX Gold
Phone: 707-208-2557
Email: michelleperez@sellwithmichelle.com
Website: sellwithmichelle.com
