By Jeff Mitchell
FAIRFIELD - Solano County's ever-escalating residential home-price increase led the entire nine county Bay Area region in June, DataQuick Information Systems officials announced this week.
From June 2004 through 2005 Solano County saw the median prices for residential real estate rise from $358,000 to $449,000, a 25.4 percent increase, DataQuick said in a press statement.
Veteran Solano County broker Annie Vogelpohl said Thursday she was not surprised by the rising prices or the sharp increase in local home sales - particularly by out-of-town buyers.
"This county remains one the last great areas in Northern California in terms of home values," Vogelpohl said. "It's been an exciting time. We've been extremely busy."
Closely following Solano County was Sonoma County, which saw the median price of homes increase 24.1 percent.
While Solano County topped median home price increases on a percentage basis, the Bay Area region in general passed a milestone as well in June, when median home prices across the region hit their second- highest level at $610,000, DataQuick officials said.
A total of 13,014 new and resale houses and condos were sold in the nine-county region last month. That was up 2.5 percent from 11,308 for May, and down 7.7 percent from 14,104 for June last year,
The year-ago June sales count was the highest in DataQuick's statistics, which go back to 1988.
"Robust demand, unchanging mortgage interest rates and a few more homes on the market are the likely factors behind the strong June numbers. We expect the rest of the summer to be like this," said DataQuick President Marshall Prentice.
The median price paid for a Bay Area home was $610,000, a new record. That was up 2.5 percent from $595,000 in May, and up 18.2 percent from $516,000 for June a year ago. The median went through the $500,000 range in 13 months, it was in the $400,000 range for 25 months before that.
Indicators of market distress are still largely absent. Foreclosure rates are low, down-payment sizes are stable and there have been no significant shifts in market mix, DataQuick reported.
DataQuick Information Systems contributed to this report.
Reach Jeff Mitchell at 427-6977 or firstname.lastname@example.org.
Monday, July 25, 2005
- ► 2007 (799)
- ► 2006 (662)
- Vallejo's Marine World profits up
- City of Fairfield Planners OK request to build a 1...
- Rush Ranch to receive $500,000 in improvements - R...
- Council OKs changes to Nut Tree development deal
- Bordoni project moving forward in Vallejo
- Necessary medicine - VacaValley to expand its ER
- Dixon ok near on homes plan with high school plot
- Unemployment rises in June, up half a percent in S...
- Big tasks ahead for new boss in Suisun City
- Weathering the weather - Forget the summer blister...
- Mariani Packing begins celebration
- Goat milk becomes goat soap in Vacaville
- High-traffic flow may be plus for Geri-Towne sale ...
- Wal-Mart nears deal on Mission Village locale in F...
- Development of Nut Tree site ready to begin
- Big tasks ahead for new boss in Suisun City
- Major retailers ready to ink local deals
- Fairground complex plans move ahead
- County housing-price increase leads Bay Area regio...
- High-traffic flow may be plus for Geri-Towne sale
- Suisun City names new city manager - former Pismo ...
- Solano County's jobless rate dips slightlyin May
- Fairfield to get furniture giant Ashley Furniture ...
- Travis AFB $5 million redesigned gate project to b...
- SF salami company to build facility in Fairfield's...
- Business space stays strong despite vacancy increa...
- Genentech to issue $2 billion in bonds -- Funds to...
- Travis continues lobbying, privatization plans
- Local chambers join forces, form an economic allia...
- Anheuser-Busch brewery donates $4,000 to restore C...
- Plans to base 13 C-17 at Travis AFB on schedule fo...
- Solano EDC courts biotechs at BIO for the county
- Study predicts healthy future for Solano business
- Plans afoot to make Solano a tourism hub
- School's out - Now building improvement can begin
- Lennar alters plans for Mare Island civilian use
- Bank of America will open in growing Green Valley
- Vallejo Home sales tapering off
- Trailblazing Vacaville's Buckingham Charter Magnet...
- New Dixon sign grabs attention along I-80
- Highway 37 project in Vallejo nears completion
- Solano County welfare new computer system called C...
- Vacaville Budget Benefit Residents
- New national cemetery slated for Dixon; some say t...
- Solano Housing Coalition Affordable Housing Awards...
- Solano County crime rate continues steady drop
- ▼ July (47)
- ► 2004 (125)