Bubbletown Not Immune:Davis Home Sales Q1 2007 vs 2008
April 9th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
It’s spring! Davis is gorgeous - trees have leafed, wisteria is blooming, birds are wildly busy feeding babies …and homes are selling - sort of. Inventory is up and open house signs once again grace the corners of Davis all weekend. But, a bubble we may be, we are not immune to the forces of the economy. Figures for single family home sales are out for the first quarter of 2008:
2007 2008
Number sold 101 48 -53%
Median price $520k $512k
Average price $558k $559k
Days/market 85 84
Total Revenue $112.8m $53.7m -53%
Takeaway? It is a good time to be a buyer! There are some great homes on the market and the prices are the best we have seen in years. - Jamie Madison
