Davis Bubble Thins Out : November 2007 vs. November 2008
December 2nd, 2008 Categories: Davis Builders, Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Greetings after a long absence! Hope your Thanksgiving holiday was peaceful and that you had much to be thankful for.
During my time away from the blog I have continued to sell several homes and I continue the still-fruitless search for several discerning clients looking for a good home in the mid range. I have closed my 50th transaction for this year. My gratitude is as great and my tenacity still in tact.
It turns out Davis is not altogether impervious to this deep economic gulf. The median price has dropped a whopping 25% compared to this time last year, and the average is down just 6%. Average price per square foot is down 11%. Inventory seems down - there is a 3 month supply on the market now:
Active homes on the market: 60 homes / Avg price $608k / Avg sq ft $341
Short sales: 7 homes / Avg price $614k / Avg sq ft $284
Pending: 28 homes/ Avg price is $615k / Avg sq ft $291
Sold since September 1, 2008 / 66 homes/ Avg price $569k / Avg sq ft $305
List price to sales price ratio is 96%, down from 98.5% from the same period last year.
For Davis home sales November 2007 vs. 2008:
November 2007 November 2008
Sides 48 44
Days/Market 62 63
Med Price $523k $391k
Avg Price $559k $525k
Avg Price/sq ft $316 $282
Davis Year in Review : Price Per Square Foot
I believe it is a great time to build your new home - there are very few lots in Davis, but if you can find one, builders are eager to please and prices are good. You will have the full attention and appreciation of your builder. Call me if you want to know more about Davis lots, one in particular…
- Jamie Madison, 530.574.0596
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Mike Corbett Talks About Davis
October 10th, 2008 Categories: Real Estate News
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Don Fouts Comments on His Infill Projects in Davis
October 9th, 2008 Categories: Davis Builders, Davis CA Real Estate, Davis Infill Project, Davis RE Trends, RE Week in Review, Real Estate News
New Davis homes? Not many. Don Fouts will tell you there is nothing easy about finding a place to build. Take a look at his most recent infill project and hear about Chiles Ranch - a new 100+ home development Don and Steve Sherman are planning in the center of East Davis.
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Real Estate Market Crashing? Not so much in Davis…
October 7th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Third quarter results are in, and Davis remains the real estate island it has always been. Sales volume is down 3%, median price is down 3% and average price is down 8% compared to the same quarter one year ago. (The 8% figure is in part because we have seen more homes under 2000 sq ft on the market this year and far fewer over 3000 sq ft.)
In the 41 Davis homes I have sold since January the challenge has not been uncertain future value, ability to get loans, or even price - the challenge continues to be finding a home with good character and sound aesthetics.
The answer to the inevitable question I often hear from friends - the market in Davis remains strong. See for yourself :
Q3 2007 Q3 2008
Number sold 148 143
Days on Market 49 53
Median Price $516,500 $500,000
Average Price $584,226 $537,137
Over the past 8 quarters, there has little shift in the average price of Davis homes. Below are figures for an average sized home - 1800 to 2400 sq ft.
As we sail into the 4th quarter of 2008, there are presently 96 single family homes on the market in Davis. 43 homes are under 2000 sq ft and just 10 are over 3000 sq ft. The average price is $658k and the average price/sq ft is $330. Average days on the market is 83 (slowing down? always in the autumn!). There are 7 short sales and no foreclosures. As I said, Davis is an island…
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A Sense of Place : Golden Bear Estates in Winters
September 21st, 2008 Categories: Country Property, Davis CA Real Estate, Davis Nature, Golden Bear Estates, Real Estate News, Winters Property
It’s pure nostalgia driving up into Golden Bear Estates - a land leftover from an era of simpler, agricultural times. Just 3 miles west of Winters, this enclave was formed in the 1960s by a couple of friends as a place where they could invite their friends to buy 5 - 40 acre parcels of land, build a dream house or what they could afford, and live in the beauty and serenity of rolling, tree studded hills. It is on the backside of the Napa hills - it has grapes, a couple of wineries, horses, views, a range of houses - but as my friend Jill says, Golden Bear is a place where the people “have their boots to the ground.” No Dean & DeLucca here, just silence, deer, coyotes and a few good friends.
Charms of Golden Bear are many, starting with the 6800 acre Audubon Bobcat Ranch - a wildlife restoration habitat that borders to the north. Or nearby Putah Creek - Creedence Clearwater’s “Green River” - for rafting or fishing. On hot summer days you can set your clock by the Berryessa Gap breeze that vigorously delivers a cool breeze early in the evening. The landscape is quintessential California golden hills studed with oaks, dry in the summer, lush in the early spring. An occasional orange grove, a pond here or there, a few horses grazing in a pasture….and an eclectic group of neighbors. The Golden Bear community is comprised of professors, retired veteranarians, poets, collectors, and equestrians, to name just a few of this private group.
Live here? It is rare that a home has come up for sale in Golden Bear, but this past year has seen several properties change hands. It stands to reason that those who built in the 1960s and 1970s are ready to move on. At the moment you can find a three very different properties for sale: a 5 acre parcel with a shop, 2-stall barn and a simple rustic house. Or an over-the-top gorgeous new 5000 sq ft + Italianate estate on 20 acres. Or a rare mid-century modern retreat that has been restored from floor to ceiling - a property that will call out to those who love the architecture of Cliff May.
Eat up! Winters is an agricultural center supplying the world with walnuts, almonds, apricots, plums and grapes. With the perfect micro-climate for citrus, chances are the organic blood oranges, mandarins or grapefruit you eat in your inspired San Francisco restaurant have been harvested from Golden Bear.
So remote but so close!
3 Minutes to: Buckhorn Restaurant, Palms Playhouse, Putah Creek Cafe
10 Minutes to: Lake Berryessa
20 Minutes to: UC Davis, Mondavi Food & Wine, and Performing Arts Center
28 Minutes to: Sacramento International Airport
45 Minutes to: Napa Valley
60 Minutes to: Berkeley
75 Minutes to: San Francisco
Call me if you wish to take a drive and have the Jamie-tour of one of the dearest places on earth! - Jamie Madison 530.574.0596
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TOPS! Madison/Merrell do it again…
July 12th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News, Realtor Tales
For the second quarter this year, the team of Jamie Madison and Kim Merrell are in the number one and number two positions respectively for total sales volume at Coldwell Banker, and Jamie Madison continues reign as the top agent in Yolo County. Why is this so?
- We have the honor of working with truly remarkable clients!
- Hard work every day
- The attention to detail of our wonderful assistant Sharon Pannell
- Sensitivity to the new opportunities that come with a changing market
- Sensitivity to the uncertainty that our buyers and sellers feel
- Working for Doug Arnold and Dave Taormino - two brokers who give good agents the support and the freedom to do their job well
- Working with buyers and sellers in a very special town where people sense they can capture the feeling of community most of us long for…
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