This Week in Benicia - Real Estate & Happenings
Happy Monday, friends -
I hope this note finds you easing into the last week of January enjoying today’s bit of sunshine. As always, I’m here to keep you in the loop on what’s happening here in Benicia — both in real estate and around town.
A quick look at our local market:
Today we have 19 single-family homes on the market, including those two properties with two homes on one lot. The average original list price was $981,451, with the current average list price at $951,373, Homes listed for sale are averaging 98 days on market. The highest-priced home is listed at $1,450,000 (down from $1,699,000), while the lowest-priced single-family home is $589,000.
We still have just one Rancho Benicia mobile home available (2 bed / 1 bath, 840 sq ft) listed at $99,900, along with five lots ranging from residential and agricultural parcels to multi-family and commercial opportunities. There are currently seven commercial properties on the market as well.
Zooming out for a moment — statewide perspective:
Today on our office call we heard from California Association of Realtors economist, Jordan Levin, who shared the following info regarding the State of California real estate market. The State continues to experience low inventory, steady (though not rapidly improving) interest rates, and prices that are being driven largely by the higher-end and luxury markets. (Exactly what we saw here in Benicia last year.) Many homeowners who secured 2–3% interest rates are staying put, which continues to limit supply. There is no indication that mortgage rates will drop much lower than 6% as the Fed numbers on the economy don’t yet warrant a drop. The takeaway? This remains a market that rewards patience, good advice, and thoughtful timing.
A few community notes I’d love to share:
• I’m looking forward to the Chamber Installation Dinner this Friday — always a wonderful evening celebrating the people who keep Benicia vibrant
• Please consider supporting the Lions of Benicia Crab Feed fundraiser on Saturday, February 7th — a great cause and a great group doing meaningful work in our community.
• And, a little reminder! You’re warmly invited to join Terrin, Tricia, and me this Thursday the 29th at 5:30 pm for an hour of hellos, a few nibbles, and some collaborative planning as we map out speakers and presentations for the next 11 months. We’d love to see you — let me know if you’ll be joining us.
As always, thank you for being part of my world here in Benicia. Whether you’re curious about the market, thinking ahead, or just want to stay connected, I’m always happy to hear from you.
Warmly,
Toni Foster
