Peaks and Valleys : Davis Real Estate June 2008
June 10th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
The spring market happened in one sharp spike late April/early May and then flatlined again with a mere 2 month supply of homes on the market, leaving all of us to wonder where the rest of the year will go.
Year to Date
142 Sold
86 Pending
166 Available
7 Short Sale
0 Foreclosures
Month of May 2007 vs May 2008
# SOLD 65 45 -11%
Days/Market 55 47
Price sq ft 333.5 319.4
Avg Price 558,881 486,676 -13%
% list/sale 99.06% 98.1%
Four Year Glance (to May 31)
2005 2006 2007 2008
# sides 518 372 444 254
Avg price 579k 589k 558k 526k
Days/market 9 48 68 68
$ volume 300.3m 219m 248m 133m
Move to Davis from New York or Los Gatos and you will be in the drivers seat IF you find a house you love. Move from eastern Idaho or Indiana and you better brace yourself to come to terms with the half-million, charm-free older home in Davis. (Davis DOES have its compensations, however!) Who is buying and selling? Here are profiles of a few of my clients:
1. Empty nesters trade their central Davis Streng for a new Centex home in Woodland.
2. Executive moving from the East Coast could not find the right family home, but they found a large home to rent for a year while they look.
3. Family selling a 3 bedroom West Davis halfplex as they depart for new jobs in the East.
4. New faculty member buys her first condo!
5. Family moving from Napa to Davis for the schools find a gorgeous large home.
6. Family moving from Ruby Ranch (Pleasanton) to find a less materialistic way of life and good schools find a gorgeous large home after a one year search.
7. Retired couple relocating from Grass Valley to find a more interesting life continue to search for an interesting and affordable home.
8. Young family decides to stay in Davis instead of returning to NY - find a pleasant small home to fix up in South Davis.
9. Woman who grew up in Davis returns from Marin County with her family and finds a nice home in Village Homes after a several month search.
The market is slower but I continue to help individuals, couples and families continue to make happy home transitions here in Davis. - Jamie Madison
