American Canyon & Vallejo Market Update

The American Canyon and Vallejo real estate markets both posted month-over-month and year-over-year gains in the median sales price. The median sales price in Vallejo rose 8.2% to $355,000 and in American Canyon it rose to $460,000. The number of homes sold decreased by 5 in Vallejo while American Canyon had a slight bump in the number of units sold.

Active homes for sale in American Canyon are becoming a rarity, however, as there are only 14 homes on the market (although 3 of these are care homes). The average list price for American Canyon is currently sitting at approximately $584,500. There are 151 active homes for sale in Vallejo with an average list price of $406,000.

Both markets look like they are going to be strong in 2017; however, the markets and interest rates appear to be in some turmoil which may have an affect on the upper end real estate market going forward. The lack of comfort may result in fewer move up buyers which could depress the market overall. Something to watch for.

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