Home Prices Fall as Sales Rise—Mortgage Rates Jump Back Above 7%

VALLEJO, Calif. - Rezul -- If you're trying to figure out the current Solano County housing market, good luck.

Prices fell.
Sales increased.
Homes sold faster.
And mortgage rates just climbed back above 7%.

Because apparently the real estate market decided being confusing wasn't confusing enough.

According to the California Association of Realtors, the median price of an existing single-family home in Solano County fell to $575,000 in August, down 7.3% from a year earlier. At the same time, closed sales increased 12.5% year over year.

Homes also moved faster. Solano County's median time on market fell to 40 days, compared with 47 days a year earlier, while unsold inventory stood at 3.3 months.

So buyers are buying. They're just being a lot more selective about what they buy—and what they'll pay for it.

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"Buyers haven't disappeared," says Vallejo Realtor Bruno Versaci of Excel Realty & Mortgage. "They've discovered calculators. If a house is priced right and shows well, it can still move. If it's overpriced, buyers now have enough choices to simply keep scrolling."

Then came the other piece of news.

Freddie Mac reported that the average 30-year fixed mortgage rate reached 7.03% on September 24, up from 6.76% just two weeks earlier and 6.30% one year ago. For buyers, that means lower home prices do not automatically translate into lower monthly payments.
On a $460,000 mortgage, the difference between 6.76% and 7.03% adds roughly $83 per month in principal and interest.

Not exactly yacht money—but over 30 years, it gets your attention. For sellers, today's market sends an equally clear message: pricing and presentation matter. "Throwing a house on the MLS at whatever number sounds good and hoping Zillow performs a miracle isn't really a strategy," Versaci says. "Buyers are active. They're just not stupid."

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So What's the Deal?

Solano County is showing signs of increased buyer activity despite falling prices and higher borrowing costs. That creates opportunity—but not automatic bargains. Buyers need to compare the entire monthly payment, negotiate intelligently and pay attention to value.
Sellers need realistic pricing, strong presentation and professional marketing from day one.

Because in this market, buyers are showing up. They're just making sellers earn it.

Bruno is a Bay Area Realtor specializing in strategic marketing, off-market opportunities, and helping buyers and sellers throughout the East Bay make smarter real estate decisions. His practical approach, straightforward advice and occasional dry humor have earned him the nickname, "The No BS Realtor." Check out his videos on YouTube by clicking here: https://rb.gy/u4gy9k