I think that it’s safe to say that rumors (started by me) of a late spring selling season in Vallejo were greatly exaggerated. Or at least erroneous. Inventory began to come back last week in a big way.
With a net gain of 11 homes on the market, 28 of which were new listings (or 45%), it’s clear that sellers are coming back to the market. How many and how quickly are still unknown, of course. In last week’s analysis of the monthly numbers, I posted a graph showing the precipitous drop in Vallejo homes for sale since the beginning of the pandemic. This week I decided to go all the way back to February 2019, just so that there is a little more context.
Even though new listings are down in the first couple of months of the year, it does appear as though the Vallejo market is starting to heat up. With 49 new listings, it appears as though we may be headed more towards 2020 levels rather than 2021 – which is a good thing. It does mean more inventory is coming which – hopefully – will work towards the current crop of buyers’ advantage so that there is a little bit less competition meaning that more people can get into homes.