Vallejo Housing Market Among Nation's Hottest, Buyers Quickly Snap Up Bargains
VALLEJO (KPIX 5) – In Vallejo, homes for sale are going fast. The time a house sits on the market before being sold is faster than almost anywhere else in the United States, 26 days.
"Pretty much as fast as we were getting a property on the market, we were selling it," said Eric Hoglund of Estey Real Estate.
The Solano County community is the hottest market anywhere in the country except San Francisco, according to a realty.com survey.
"It's a great bargain," Hoglund said.
Tim Garton grew up in this neighborhood and delivered bikes on this street as a kid. Now a realtor, he can get you into a 3 bedroom, one bath, 1,000 square foot home for $279,000, maybe.
"I would expect two to three offers over the next 7 to 10 days," Garton told KPIX 5. "Looking for a little action on this one."
"You gotta remember where we're coming from," Hoglund said.
Vallejo fell into bankruptcy in 2007. With it, drastic fire and police cuts. Real estate prices fell off a cliff.
"Everything's in transition," Hoglund said.
The city's now out of bankruptcy and adding fire and police, though it's not back to pre-bankruptcy levels.
Vallejo's crime rate remains the second highest in the Bay Area and unemployment is higher than the Bay Area average.
But with average prices in the $300,000s, it's a relative bargain for the Bay Area, and going fast.
