Sacramento Appraisal Blog

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City of Fairfield

Steep decline in property value in Fairfield

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I found these graphs astounding. It’s amazing to look back and see how the market has shifted in recent years. I know very personally it’s less than encouraging for home owners to see graphs like this, but it is what it is, right? Here are two graphs from recent research I did during an appraisal in the City of Fairfield. What do you think?

Now let’s look at all sales in the City of Fairfield over the past five years to see if the neighborhood trend above echoes the overall trend in Fairfield. Do you see any similarities or differences?

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City of Fairfield Recent Sales and Pendings

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Here is a quick trend graph for you of all sales in the city of Fairfield over the past 12 months (red dots) as well as all current pendings (blue dots). What do you notice? Does anything stand out to you? Can you decipher any citywide trends based on this scatter graph? By the way, the unemployment rate in Fairfield as of November 2009 is 13.1%.

City of Fairfield Sales Past Year and Current Pendings Graph by Lundquist Appraisal Company

I know citywide graphs are not as descriptive as neighborhood-specific graphs or even if we looked at a specific square footage or age range in Fairfield. Just take the graph above for what it’s worth. It’s interesting to see six of the highest sales of the year over the past six months. Does it seem too that the lowest end of the market is a tad higher than the lowest point during the beginning of the year?

www.SacramentoAppraisalBlog.comCity of Fairfield Recent Sales and Pendings

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