Well, the new year’s first month of sales are in… january.pdf
There were 13 properties sold in Davis in January. They sold for an average price per square foot of $296.65. This figure is about $20 higher than expected, but not too surprising as their are only 67 single family detached homes for sale right now in Davis.
Call (530) 902-3999 or e-mail me at andrew@DavisCalifornia.com for more information or to look at homes.
My last post got me thinking… I mentioned that not as many high priced homes here in Davis are selling lately. Is this, in fact, accurate and… are the ones that are selling being sold at a discount (a significantly lower price per square foot)?
Well… to partially answer this, I looked at 4th quarter sales of homes within Davis with at least 2200 square feet. 19 of these homes sold in the last three months of 2009… compared to 23 the year before, and 17 in 2007. Not too different… pretty typical in fact. The average price per square foot for these 2009 home sales was $251.0 which is 7.5% lower than the average price per square foot of all homes sold in the 4th quarter of 2009. If you look at 2008 4th quarter sales, the larger homes (over 2200 square feet) sold for $270.69 which was only 5.2% lower than the average price per square foot that all homes sold at in that same time period.
Here are the closings for the month of December 2009 (as well as the properties within Davis currently pending sale)… dec-09-closings.pdf
It is very interesting to look at these numbers as the properties pending sale are pending at a price of approximately $300 per square foot (slightly below when you factor in the “pending bring backup” properties). The average sales price per square foot for these properties will likely be in the low $290’s which is higher than both last December/January and last month (Nov ‘09).
On the other hand, most of these properties are lower priced homes. Not may high end homes are selling as evidenced by the lower median price in Davis… Which will very likely be under $400,000 in January (unless several higher priced homes sell this week with very short escrow periods).
Here is a list of all the properties within Davis that closed escrow within the month of November, 2009… nov-closings.pdf
The average price per square foot for these closings was $277.80 which is not that different from last month and/or November of last year. This seems to be another testament to the stability of the Davis real estate market.
If you have any questions or would like any statistical information concerning the local real estate market, please feel free to call 530-753-6485 or e-mail Andrew@DavisCalifornia.com me anytime.
Attached are the October 2009 sales (within Davis per the MLS on November 2nd, 3:08pm) cma-october-davis.pdf
The average price per square foot for these sales was $270.10. This is a bit lower than I expected (it’s 11% lower than October of 2008), but one encouraging sign is that there are more sales. In October of 2008, there were just 19 sales, but there were at least 29 sales in Davis this October.
Also encouraging for owners and/or sellers is the number of homes within Davis that are pending sale… 33. That’s a healthy number for early November.
Attached are the sales within Davis for the month of September, 2009… sept-2009-cma.PDF
As you can see, the average price per square foot for these closings was $312.36. That’s up from last month AND up from last year (all closings in Davis within September of 2008; the average price per square foot that month was $309.50). It appears as though Davis prices are relatively stable. The primary concern for Davis sellers is that there is simply less activity. Compared to last year, there were 28% fewer September sales (FYI… if a broker is late reporting a sale (or two), then that figure could drop to 25% (or 23%).
Call or e-mail me with questions.
Andrew andrew@DavisCalifornia.com
Sales within Davis in the month of August, 2009 were relatively strong… take a look… august-09-cma.PDF
Of the properties that closed escrow, they closed at an average of $281.91 per square foot. Of the properties currently pending sale, they’re pending sale at an average list price of over $300 per square foot.
…So, it appears that the average price per square foot in Davis will go up in September, ‘09.
Call or e-mail me with questions or just to chat… (530) 902-3999
Here are the final figures for the month of July… july-09-cma.PDF
When you add the properties that closed escrow on 7/31/09 (including 5604 Marden Street, a larger home (larger homes typically sell for a slightly lower prices per square foot) that sold for full price, the final price per square foot for July’s closings in Davis was $285.56 and… the average “sales price to list price ratio” in July was 98.24%
Here are the June sales in Davis… june-sales.PDF
And here are July’s sales (note July 31st is not included)… july-sales.PDF
When comparing June to July in Davis, the average price per square foot decreased from $307 to $287 (not a final figure). However, it’s not all bad news for Sellers in Davis… not only did the the average price and the median price of homes in Davis increase, but and the sales price to list price ratio also increased (from 97.78% to 98.23%).
My June 5th, 2009 posting got me thinking… Are prices actually increasing in Davis? Well not exactly. Per the statistics, the average and median home sale prices did go up in May; However, year to date, prices are, in fact, lower than a year ago. The median price of year to date home sales in Davis (all sales through June 30th, 2009) is $458,950. A year ago, year to date it was $492,500… That’s 7% lower. The Average price in Davis so far is $495,923. Through June last year, it was $529,590. That is also 7% lower. For whatever reason, the average and median prices in Davis in May, 2009 spiked up slightly. Considering the lack of inventory, perhaps we’ll get more spikes upward going forward.