October 6th, 2014
As we transition to the fall season, the real estate market here in Davis is going strong, as typical.
Prices are higher than last month as well as last year. CMA Report Sept 2014
September was a strong month… The average price per square foot for the properties that closed escrow within the month is $314.37. As mentioned, that’s higher than last month and last year (as expected). Also higher is the Sales price to list price ratio. Last month (September), properties sold for an average of 99.66% of the ask price. In August, the month prior, properties sold for 99.27% of the last list price, and in September of last year, the ratio was 99.04%
This month (October of 2014), I expect this ratio to be lower than 99.66%. This is simply an educated guess based on the time of year / the fact that fall has arrived.
I hope you all have a happy and safe Halloween!
September 5th, 2014
Well, here are the stats for last month… CMA Report Aug 2014
August was typical… 62 homes sold for an average price per square foot of $305.63. In August of last year, 50 homes sold for an average price per square foot of $297.02.
Last month (July), 47 homes sold for an average price per square foot of $319 so it may appear that things have cooled off a bit (as is the case each fall). The number of days last month’s homes remained on the market before selling is up slightly, but still low- just 27.
We’ll see where the trends lead us… Contact me anytime.
Cell: (530) 902-3999 or e-mail: andrew@DavisCalifornia.com
August 5th, 2014
I hope you’re all enjoying your summer. July here in Davis was pretty typical… Slightly fewer properties sold compared July last year, but more properties are pending sale right now than this time last year.
Here is the most recent data… CMA Report July Last month, 47 properties sold for an average of $319.08 per square foot. They sold in an average of about 20 “days on market” and sold for an average of 100.09% of their last asking prices.
Nothing earth shattering here.
If you have any questions or would like to buy or sell a Davis or Woodland property, please feel free to contact me anytime.
July 9th, 2014
I apologize for posting a bit late this month, but not much has changed in Davis and the surrounding communities.
Here is the latest Davis real estate market data… CMA Report June
As you can see, things seem to be relatively typical. 70 homes closed escrow in June and those homes sold for an average price per square foot of $320.28 (in 23 days for 99.78% of the last asking price, on average). Last June, there were only 47 sales (averaging about $300 per square foot).
If you’re interested in buying or selling a property in the area or would like to talk, please call or email me anytime.
June 5th, 2014
As of right now (11:27am on 6/5/2014), there are 109 active listings in Davis. That’s more than twice as many as 4 months ago, but still less than what most would consider to be an appropriate inventory for a balanced market of Davis’ size.
In May, the Davis properties that sold were on the market for an average of 31 days. That’s a bit higher than last month, but still very low. With inventories higher, I suspect the “days on market” will go up to a more normal 60 days or so. I’m not sure if that will happen within a couple / few months, in the late fall, or next year, but it’s likely to happen.
Here are the stats (current pendings AND May’s closings)… CMA Report May 2014
May 5th, 2014
Here is the latest CMA report that shows the properties within Davis that are currently pending sale as well as all the properties that closed escrow within the month of April, 2014… CMA Report April 2014
What stands out to me most this month is the average price per square foot of the homes that closed escrow… $320.67. That’s a big jump from last month’s $293.41. The average price per square foot in April of 2013 (last year) was $278.37. Another indication of a seller’s market is the average number of days the April 2014 closings remained on the market before selling… 24 days. Last month and last year, that figure was 41 and 40 respectively.
One positive for current buyers is that there are more properties to choose from. Currently, there are 86 active listings. Last year at this time, there were more than a dozen fewer.
Andrew (530) 902-3999
April 4th, 2014
Here are the closings (and pending sales) for the month of March… CMA Report for March 2014
As you can see, there were 35 closed escrows last month. That’s 14 more than last month and 3 more than March of last year. The average price per square foot for the sales in March 2014 was $293, slightly lower than February 2014 ($296), but higher than last year. Last year, the properties that sold in March closed at an average price per square foot of $266.27.
Looking at this latest data, one of the more interesting things to note is that at this time last year there were 92 properties pending sale. As of today at 1:41pm, there are currently 75 properties pending sale. So… it’s definitely busy this spring, but apparently not quite as busy as last spring.
If you have any real estate related questions, please call the number below or email me at andrew@DavisCalifornia.com
Andrew (530) 902-3999
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