Davis Real Estate Update: Hot June in an Off Year
July 12th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Sweltering! Not just the weather, but sales. Around the our office files are stacked high as we finish processing 131 sides for June and a large stack for July too. Little by little inventory is coming back, but we are severly lacking in good homes in the $650k - $800k range. At the moment there are 119 single family homes in Davis available for sale and 51 homes in pending status. Let’s look at what has happened so far:
Davis Second Quarter Sales 2007 vs 2008
2007 2008
Number of homes sold 198 158 -24%
Median price $526k $490k -7%
Average price $568k $526k -7.5%
Days on Market 50 52
2008 Sales By Month
Sides Average Price
January 24 $597k
February 28 $486k
March 44 $582k
April 62 $524k
May 96 $496k
June 158 $548k
Woodland Second Quarter Sales 2007 vs 2008
2007 2008
Number of homes sold 97 135 +39%
Median price $360k $266k -26%
Average price $389k $270k -31%
Days on Market 87 59
Sacramento Area Pre-foreclosures in June
Pre-foreclosure - the owner has stopped making payments and the bank has stepped in to sell the property, also known as a short sale
Davis 4
Dixon 25
Folsom 49
Woodland 56
Rocklin 60
Napa 66
West Sac 86
Vacaville 97
Roseville 123
Elk Grove over 400
What is a “side”? Each home sale is comprised of 2 sides - the seller side and the buyer side, which may be represented by different agencies. Brokers often look at sides to get a more accurate picture of how they are competing in their market place.
Want to learn more? Call Jamie Madison at 530.574.0596 and ask away!
