I recently compiled 2007 sales data for all five areas within the city of Davis (All data obtained from the Multiple Listing Service (MLS)).
These results include all sales reported to the MLS that occured in the year 2007.
As always please feel free to contact me anytime at either Andrew@DavisCalifornia.com or 530-902-3999.
The link below will give you updated sales activity since my last December posting.
MLS Data What I found most interesting while reviewing this data is the “sales price to list price” ratio of 91.46%. I have not seen such a low SP%LP ratio in Davis since before I started over 10 years ago.
Another thing that jumped out at me was that someone was able to purchase a single family detached home (1 House on Lot (1HSL)) in Davis for under $300,000. According to our MLS… these 3 2007 properties Under $300K sales are the only ones since March 24, 2003. I discovered that this is actually incorrect while researching archived MLS sales activity - there are actually 9 sales of detached homes (1HSL) since March of 2003. All but 1 occured in the 2003 calender year (A home on Olive Dr. sold for 290,000 in 2004). 7 of the 9 were sold between 287,500 and 295,000. All of these homes are a similar caliber home to 627 L street (2 were on L, 2 were on Duke, and 2 were on Snyder). So… the short answer is that the Davis market now seems to be getting back to 2003 prices.
If you want to follow the market especially closely, it’s a good idea to print out compare the sales activity to past months and better yet past years (so that you can account for inherent seasonal changes). Unfortunately, it would be quite time consuming for me to post sales activity for all areas for past months / quarters over several years. If you would like any sales activity (past or present) for any particular time frame or part of Davis, please feel free to contact me via e-mail andrewdowling@comcast.net or phone 530-753-6485 anytime.