Friday, October 27, 2006

Solano leads housing slump

Solano leads housing slump: "

Posted on Thu, Oct. 26, 2006

Solano leads housing slump

Solano County homes stayed on the market longer than those in any other Bay Area county, according to a report released by Prudential California Realty.

Single-family, detached active listings went up 43 percent in the county, but they spent an average of 77 days on the market, more than double last year's 34 days. In Suisun City, homes spent an average of 100 days on the market, up from 27 days in 2005.

Contra Costa County 's single-family detached homes spent an average of 29 days on the market, up 10 days from this time last year. Alameda County's average days on the market also rose, from 18 to 27. The Bay Area average was 49 days, up from 32 days last year.

Scott Kucirek, general manager of Prudential California Realty, said the trend is fed by sellers refusing to budge on prices.

'Competitive sellers need to lower prices or risk missing the sale,' he said."

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