March 6th, 2014
Real Estate prices here in Davis are a bit higher than last month, but not quite as high as I expected.
Last month I estimated that the average price per square foot for homes closing in February would be at, or slightly above, $300 per square foot. Turns out, the average price per square foot last month was $296.34 That’s higher than both last month and last year ($281.78), but slightly lower than I expected from looking at last month’s “pending sales”.
Here are the closings as well as the current pendings… February CMA Report
21 properties closed escrow in February, 2014. Those 21 properties were on the market an average of 47 days. Last February, there were 26 closings on the market for an average of 70 days.
Need to find a home OR sell a home? Call 530-902-3999.
February 6th, 2014
2014 seems to be starting out similarly to 2013 as there are very few listings on the market (46 as of today, 32 homes excluding condos and halfplexes (split-lots).
In this CMA Report, you can see that the properties that closed escrow in January sold for an average price per square foot of $291.7. Last month the average was $302.07, but I suspect based on the pending sale statistics that next month the average price per square foot of Davis’ sold properties will again be above $300.
Call Andrew with any real estate related questions… (530) 902-3999
January 14th, 2014
How does the current real estate market here in Davis compare to the last 5 years?
This chart depicts local real estate activity fairly well…
Davis Sales Graph 2014
As you can see, real estate activity is very seasonal. The fewest closed transactions is historically in either the 4th or the 1st quarters of the year and the highest amount of activity is typically in the 2nd quarter.
Feel free to print out this chart.
Andrew (530) 902-3999
January 7th, 2014
2014 is here… Nearly halfway to 2020.
Seems to be a relatively normal real estate market here in Davis. The number of active listings (inventory) is low, just 34 right now and the number of recent sales is typical… 35 last month (there were 33 sales in December 2012).
Here are the latest statistics… CMA Report December
The 35 properties that sold last month sold for an average price per square foot of $302.07. That’s over 15% higher than December of last year. Properties also sold more quickly too as the average number of day’s the 35 properties that sold last month remained on the market was 52. Last year the 33 properties that sold were on the market for an average of 89 days.
On the other hand the sales price to list price ratio is lower in Dec 2013 vs Dec 2012. Last month, properties sold for an average of 97.39% of their last list price. Last December, properties sold for 98.47% of their last list price.
To obtain more up to data and/or more thorough market data OR to discuss buying or selling any California property, email or call me today.
Andrew Cell: 530-902-3999
December 5th, 2013
In Davis the last few months, the number of active listings was rising. Locally, some sellers were concerned by this trend. The trend, however, reversed over the last few weeks. Not much more than a month ago there were about 80 active listings and, as of this morning, there are just 48. Some homes have sold and some owners are withdrawing their properties from the market for the holidays. Here are the latest stats…
Last month, there were 24 sales (see linked report CMA Report Nov) These 24 homes sold in an average of just 31 days for an average price per square foot of $299.86. Last year, 32 properties sold for an average of $276.14.
I hope you all have a wonderful Holiday.
Ph: (530) 902-3999 or E-mail: Andrew@DavisCalifornia.com
November 5th, 2013
Here’s a report showing all the Davis properties that are currently pending sale (as of 11/05/13 at 1:03pm) as well as those properties that closed escrow in the month of October. MLS CMA Report for October
As you can see, 43 homes sold last month for an average price per square foot of $286.50 with and average of 52 cumulative days on the market for an average sales price to list price ratio of 99.50.
Last year, 29 homes sold for an average price per square foot of $253.11 with and average of 61 cumulative days on the market for an average sales price to list price ratio of 98.53.
So all this seems to suggest that the market is stronger than last year; However, one “area” not mentioned is pending sales. Last year at this time, there were 60 properties pending sale. Currently there are 41 properties pending sale. This is significantly lower, however, still quite healthy (in 2011, the number of properties pending at this time was in the 20′s).
If you’d like a more detailed market analysis or would like to buy or sell a property here in Davis (or Woodland), please feel free to contact me anytime.
Andrew (530) 902-3999 or email at: andrew@DavisCalifornia.com
October 4th, 2013
Here is the latest CMA report CMA Report Sept showing last months sales (closed escrows).
The average sales price to asking price ratio has finally dropped down below 100%. The ratio is at 99.04% for September’s sales. That figure is higher than last September’s (2012) closings (98.31%). The average price per square foot for this September’s sales is also higher than last year… $300.89 vs $263.21 last year. Interestingly, there were more sales last September (40) than this September (29).
So it could appear that the real estate market here in Davis is slowing down a bit. That, however, may not be the case as there are currently 57 properties pending sale. I predict that the number of properties sold in October 2013 will be slightly higher than October 2012.
If you have questions about buying or selling a home or have any general real estate questions, please feel free to contact me at 530-902-3999 anytime. Or send an email andrew@DavisCalifornia.com
September 11th, 2013
Homes within Davis are still selling for more than the asking price (on average, based on last months sales). In August, there were 50 Davis properties that closed escrow and the average sales price to list price ratio was 100.46%. That’s 5 months now that the average has been over 100%.
Here is the latest CMA report… AUG CMA report
Looking at the report, you can see that the average price per square foot in August was $297.02. It was $290.02 last month and $258.26 in August of last year.
August of this year wasn’t quite as active as last year… There was 50 sales last month, but 61 properties closed last August (2012). 11 fewer properties, but still more than the 32, 34, 38 in August of the 2009, 2010, and 2011 years respectively.
As of noon, September 5th, 2013, there are 80 properties currently on the market.
Cell: (530) 902-3999
August 5th, 2013
Since last month, the interest rates have crept up a bit. Perhaps that#039;s one of the reasons that inventory here in Davis has gone up. As of this afternoon (August 5th), there are 83 properties currently on the market. It was only about a month to a month and a half ago that there were about 40 active listings. That#039;s a relatively large increase in a relatively short period of time.
That being said, the closed sales within the month of July don#039;t show much of a change…
July CMA Report Last month, 65 Davis properties sold for an average of $290.02 per square foot. They sold in an average of 24 days for an average of 100.74% of the asking price (still over the asking price – see my last two posts).
If you have any questions or would like a more comprehensive market analysis, please feel free to contact me anytime.
Andrew (530) 902-3999 or andrew@DavisCalifornia.com
July 8th, 2013
The real estate sales market here in Davis, CA does NOT seem to be changing much based on June’s sales.
Last month, there were 47 sales per the MLS on July, 6th at 2:49pm. Those 47 properties sold for an average price per square foot of $298.28 (just shy of $300, which we haven’t seen here in Davis for several years). The average sales price compared to the last list price for those 47 properties was 100.57… Still over the asking price just like the last two months. The number of days on the market seems to still be decreasing as well… The average was just 25 days before these 47 homes were changed into “pending sale”.
Currently, a healthy 89 properties ”pending sale”.
Here is all the information… June CMA
If you’d like a more detailed market analysis or would like to look into buying or selling a property here in Davis, call me anytime at 530-902-3999.