08/10/2022
Happy August Family,
Here is the data for July 2022. All single-family home properties in Solano County.
The median price sold in Solano County is $590,000, declining by -5.6% from June. Interest rates fluctuate daily and are still high, with consumers indecisive about buying a home, causing home prices to decrease.
The average days on the market (ADOM) is 30 days. In June, it was 26, increasing 15.4%. The longer the house stays on the market there's possibility of price improvement.
Although we are still in a seller's market, in my opinion, the market is shifting—three things you need to know back in a shifting market—contingencies, closing assistance, and buying down the interest rate.
Contingencies like inspections and appraisals are back! Now you don't have to go as much as is or over appraisal.
The seller paid closing assistance is back too! Means less out-of-pocket for you at closing.
You can use seller closing assistance to buy down your rate.
It has been a crazy market the last couple of years. This could be your time to buy your dream home. If you have any questions, please don't hesitate to contact me.
I hope this helps anyone considering buying. 🏡
