Is Vallejo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Vallejo has remained a Seller's Market.
Key Takeaway
Vallejo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vallejo, CA
How much do homes in Vallejo, CA cost?
Median Sold Price
$525,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Vallejo have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Vallejo was $525,000 in May 2024, down 1.2% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $250K | +6.4% |
| 2 Bedrooms | $439K | $440K | 0.2% |
| 3 Bedrooms | $525K | $529K | +0.8% |
| 4 Bedrooms | $650K | $632.5K | -2.7% |
| 5+ Bedrooms | $700K | $710K | +1.4% |
Summary: Vallejo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Fairfield-Suisun City | $579.6K | $600K | +3.5% |
| West Contra Costa | $715.1K | $720K | +0.7% |
| American Canyon | $675K | $670K | -0.7% |
| Vallejo | $531.1K | $525K | -1.2% |
| Benicia | $775K | $765K | -1.3% |
Housing Supply in Vallejo, CA
How many homes are available in Vallejo, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 288 | 346 | +20.1% |
Summary: The Vallejo real estate market had 346 homes for sale in May 2024, a 20.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 60 | 71 | +18.3% |
| 3 Bedrooms | 128 | 155 | +21.1% |
| 4 Bedrooms | 75 | 91 | +21.3% |
| 5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Vallejo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 81 | +15.7% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vallejo, you could pay more than the asking price. 44% of homes here sold above asking price last month.
Summary: A total of 81 homes were sold or pending in Vallejo in May 2024, up by 15.7% month-over-month. Of the 75 sold homes, 32% were sold under asking, 24% were sold at asking, and 44% were sold over asking.
Days on Market for Vallejo, CA
How long does it take to sell a home in Vallejo, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 36 Days | +13.5% |
Summary: Homes in Vallejo had an average of 36 days on market in May 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Vallejo are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 81 homes were sold in Vallejo; 20% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
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