2007 vs 2008: Davis Housing 3 Month Snapshot
March 12th, 2008 Categories: Davis RE Trends, RE Week in Review, Real Estate News
There were 16 homes on the Coldwell Banker realtor tour in Davis yesterday - signs that although late, spring inventory is finally starting to come in. For those of you from out of town, the listings you look at will seem like a throwback to 2005. Prices are still up, homes are better prepared than they were 3 years ago, but they are still Davis homes - sometimes needing a little updating or staging. Ad could read “average home, comes with wonderful town”.
TIP: If you are looking for a gorgeous updated Streng (mid-century modern) tucked away on a lush, quiet cul-de-sac in the center of town, call me to see 826 Cherry Lane. It is an awesome treat!
STILL STRANGE: We are still seeing certain homes selling quickly for over asking price in multiple offers (Almond Lane, Dartmouth, Pine Lane) while other perfectly good homes languish without offers. The schism is so noticeable yet hard to explain. One thing about the homes that sell quickly, they are clean, bright, well priced and thoughtfully prepared for market.
FEW CONDOS: We are up to 28 condos on the market - they are either built in 1972 or they are brand new - not much in between. Price range is $239k for a McKeon Condo to $529k for the exciting downtown Roe Building Unit 201. Average price is $351k with an average of 42 days on the market. I have several condo searches going on and it is not easy to find the happy medium.
THE NUMBERS: Here is a comparison of the period from 12/1 - 3/7 for both 06/07 and 07/08 for Davis only:
Number of units: 91 vs 48
Median price: $508k vs $514k
Days/market: 87 vs 85
Average price: $552k vs $521k
For January and February for the 2006, 2007 and 2008:
Price per sq/ft $363 vs $319 vs. $309
For more information, contact Jamie Madison at 530.574.0596
