First Two Weeks of 2008: Not Elk Grove
January 14th, 2008 Categories: Davis RE Trends, RE Week in Review, Real Estate News
Based on recent calls and inquiries, and knowing how many clients didn’t buy last year but are ready to have a home to love, I have a gut feeling that this is going to be a very active spring. Insecurity about home prices and the loan market have caused many to pause this past year. I sense this churning, pent-up need starting to boil. ALWAYS I am asked whether this is the right time to buy. It might be.
Anecdotally, I have 6 listings that have either gone pending or sold in the past 6 weeks. Buyers of the 3 are from out of the area and are buying as investments.
For you who are new to Davis, this is the time of year when homes that were withdrawn for the holiday start to come back on the market. Spring is when offers go out at UCD and people are seriously engaged in finding/selling homes. We will see lots of change over the next 4 months.
Here is the activity for the first 14 days of the year:
New listings: 14
Pending properties: 4
Sold properties: 3
Expired listings: 3
A half plex on Jardin listed at $429,000 sold for $418,000, or 97.6% sales price to list price. (121 days on market, $291 sq ft).
A beautiful home on Emerald Bay listed at $725,000 sold for $715,000, or 98.6% sales price to list price. (135 days on the market, $339 sq ft).
Of those that have accepted offers, they were on the market for an average of 104 days and average sq ft price is $294. All sales appear to be smaller investment properties.
Stay tuned for a complete 2007 summary of Davis Real Estate, coming soon!
