Andrew Dowling

The average sales price per square foot for Davis homes sold in July, 2010 was slightly higher than expected (see last blog entry)… $276.19

Here is a pdf showing those sales as well as the Davis homes currently pending sale… july-2010-cma.pdf  Based on the pending sales, it appears that August’s average price per square foot in Davis will decline a bit more.  So, although July’s average is slightly higher than expected, August’s average is likely to be a bit lower than expected given the market conditions earlier in the summer.  FYI…  Last year, the average sales price per square foot (for Davis homes that closed in July) was $285.

Overall, there are still more sales than last year AND the overall average price per square foot year to date is also higher than 2009 year to date (279.86 in ‘09 vs. 281.56 so far in 2010), but there isn’t a huge difference.  The Davis market seems to be very “flat” right now.

I hope the rest of your summer is enjoyable.

E-mail me anytime… Andrew@DavisCalifornia.com

I hope you all have a happy and safe 4th of July holiday.

The June 2010 numbers for Davis are quite strong… cma-june-2010.pdf    The average price per square foot was $299.79 for these homes.  That figure is up from May’s $289.5 figure.  When one looks at the pending sales, however, it is clear that July’s average price per square foot figure will be closer to $270.  In July of 2009, the average price per square foot was $285.56.

 It will be interesting to check back in early September/October after more summer sales to see whether the June 2010 average price per square foot figure OR the July 2010 average price per square foot figure will be the greater anomaly.

E-mail me anytime at Andrew@DavisCalifornia.com

May of 2010 was a relatively healthy month as far real estate sales in Davis were concerned… may-cma-2010.pdf

You’ll notice, during the month there were 51 sales in Davis.  These homes sold for an average of $289.53 per square foot.

Last May, in 2009, there were 36 sales and those properties sold for an average of $278.67 per square foot.

All the Davis properties that are currently pending sale look as though they will close at an average price per square foot figure that is very similar to the May, 2010 $289.5 figure.

Please feel free to contact me anytime at (530) 902-3999.

 Andrew

Here are the closings within the month of April, 2010… april-2010-cma.pdf

What jumps out at me most when I look at these numbers is that there were just 31 closings in April.  This is not a particularly low number (it’s actually slightly higher than April of last year), but it’s a low number when compared to the number of properties currently pending sale, 76.

Also… Considering the pending property’s average list price per square foot, it appears that May’s average price per square foot in Davis will be slightly higher than April’s average.  Higher prices and more sales… good signs for sellers.

Our Second annual home ownership seminar is set for Thursday, April 29th, 2010 at The Pence Gallery in downtown Davis.  Come on out and enjoy refreshments at this free event while learning about the home buying process.  I hope to see you there!

For more information go to www.MyDavisTeam.com or call me at (530) 902-3999.

As expected, now that it has warmed up a bit, there are more homes on the market here in Davis… over 100 now.  More homes are selling too.  There are 50 properties currently pending sale, per the attached MLS print out. cma-march.pdf

The average price per square foot for all the March, 2010 sales within Davis was $294.86… perhaps slightly higher, but not far from what was expected.

There are now 83 single family detached homes available here in Davis.  That’s up from 67 one month ago at this same time.

The sales / closings within Davis during the month of February sold for an average of $277.68 per square foot. See the attached file… febuary-cma.pdf   This figure is down from January’s $296.65, but this makes sense as both the average overall price and the median price of February’s home sales increased when compared to January (Typically, larger (higher priced) homes sell for a slightly lower price per square foot).  The number of homes pending sale has increased too.

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).