Here are the closings during the month of May, 2009… may-sales.PDF
Interestingly, the average price per square foot is slightly lower than last month, but… Not only are the average and median sales prices higher than last month, they’re also higher than one year ago.
Andrew Andrew@DavisCalifornia.com (530) 750-7552
Here are all the sales within the city of Davis for the month of April. april-sales.PDF
The average price per square foot here in Davis seems to be stabilizing (It was $278 in Feb, $280 in March, and now $286).
For a more detailed analysis concerning different neighborhoods, different property types, or different time periods, please give me a call (530) 902-3999 or send an e-mail to Andrew@DavisCalifornia.com
Here are the closings for the month of March, 2009. sold-in-march-2009.PDF
It seems like the higher priced properties are not selling quite as well as the smaller homes. Call me with questions… (530) 902-3999
E-mail: Andrew@DavisCalifornia.com
Due to unfortunate /unavoidable circumstances our April 15th seminar at the Pence Gallery here in Davis has been postponed. We should know the new date soon and will post the time of the next seminar as soon as possible. Periodically, check back here www.AndrewDowlingBlog.com or check www.MyDavisTeam.com for more details.
Along with three other business professionals here in Davis, I will be hosting another seminar at the Pence Gallery. We will discuss whether it might be a good time to buy a property, the overall economy, and we will leave more time at the end of our presentation for your questions. Please come and enjoy the talk and the refreshments.
SAVE THE DATE… Wednesday, April 15th. 6:00pm For more information, go to www.MyDavisTeam.com
RSVP at my voice mail (530) 750-7552 or my e-mail andrew@DavisCalifornia.com
Or, call my mobile (530) 902-3999
This pdf feb-09-cma.PDF shows that only 4 properties within Davis closed escrow in the month of February. Wow, that is the lowest number of sales in Davis during a complete month in quite some time. The good news, at least for sellers, is that there are a very healthy number of homes that are currently pending sale. The amount of buying activity has definitely picked up in the last couple of weeks. Note that the average asking price per square foot for the homes currently pending sale is $278.92.
About a year ago, I predicted that in 2010 we would likely see normal residential real estate appreciation rates again. Given the current state of the economy, it is looking more like perhaps 2012 before things turn around. That being said, I wouldn’t consider the amount of potential depreciation in Davis, over the next 2 or 3 years to be so great as to hold off on a purchase (unless, of course, you are planning on selling within 4 years of your purchase). The inventory here is still low (and should continue to remain that way) and interest rates are superb. Provided you plan to live in your home for 5 or more years, now is a great time to buy.
I will be hosting (along with three other local business partners) a home-ownership seminar on Wednesday, January 28th at 6:00pm. This event will be fun and informative. Come enjoy some refreshments during our one hour presentation at the Pence Gallery in downtown Davis. All are welcome! Please RSVP at my voice mail number (530) 750-7552 or my e-mail address… Andrew@DavisCalifornia.com. For more information call me at (530) 902-3999 or visit www.MyDavisTeam.com
I have completed a market analysis for the last 45 days (see cma_2009-01-14_1414.pdf)
This shows all the sales (closed escrows) in the last 45 days in Davis as well as all the properties that are pending sale (sales price is not yet known to the public).
The average sales price per square foot during this period was $286.84.
What most jumps out at me in reviewing this is the drop in the median prices when comparing the sold properties to those pending sale. It looks as if fewer high priced homes are selling. This , however, may not necessarily be the case when we later compare the month of January to the month of December. With January’ statistics not finalized, we know a few sales can change things dramatically.
Please comment on any of my blog postings… and, as always, feel free to contact me anytime andrew@DavisCalifornia.com or 530-902-3999
The attached Market analysis report (CMA) cma_2008-12-17_1438.pdf shows that the average price per square foot of all the Davis properties that closed escrow in the last 45 days is $283.22. Another thing that jumped out at me when I looked at this report was that the average “sales price to asking price ratio” for these homes was 94.51%. For Davis, that is the lowest level that I can ever recall seeing. (I haven’tconfirmed this statistically, but can certainly look into this if anyone is interested).
Please call or e-mail with comments or questions.
Andrew (530) 902-3999 andrew@DavisCalifornia.com