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
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