Davis Real Estate
Davis is a wonderful college town of 65,000. Elsewhere on this site you can get details on the amenities and opportunities that Davis offers to residents and visitors. Take a look at Discover Davis or browse The Top Ten Reasons to Live in Davis in order to learn more.
The focus of this page is to delve a little deeper into the real estate market itself and answer some questions that I frequently get asked.
- How's the market in Davis?
- How much does the average home in Davis sell for?
- If I put my house on the market, how long will it take to sell?
- When is the best time of year to buy or sell a house in Davis?
- How many homes are for sale in Davis at any given time?
Below are a few graphs that provide recent information about the Davis Market. These graphs show the sales information for single family homes in Davis during the past three years.
Homes on the Market vs. Homes Sold
Notice the seasonal nature of the Davis market. If you are a buyer, you have the most homes to choose from in the summer. Once the Fall comes and school starts, the supply of homes for sale shrinks and doesn't come back until spring.
Average Price per Square Foot
The good news for people selling a home in Davis is that the value of a Davis home, as measured in "price per square foot", has remained fairly constant over the last three years. As you can see below, in January 2007 the average was about $300 per square foot and in January 2010 the number remains the same if not slightly higher. The price per square foot is not a hard and fast rule, but rather a "rule of thumb" and a good starting point if you are wondering the approximate value of your house. Smaller homes tend to sell for a higher price per square foot, while larger homes sell for less than $300 per square foot.
Average Days on the Market
So, how long will it take to sell my home in Davis? By looking at the graph below, we can see that the average time it takes to sell a home, expressed as "Cumulative Days On Market" or CDOM, is getting shorter. In January 2008 it was 90 days, in January 2009 it took less than 80 days. Now, in January 2010, the average days on market is about 45 days. Of course there are some variables - how aggressively you priced your home, it's location, and what price range it's in. For instance, a $2 million dollar home tends to take longer to sell simply because there are fewer potential buyers in that price range.
Notice also that homes consistently sell for more than 90 percent of the asking price, on average.
I hope this information has been helpful to you. These graphs will update each month so that you always have the latest information on the trends in the Davis real estate market.
Davis is a unique place to live and a unique real estate market. It is subject to it's own market forces that make it slightly different than other neighboring communities. The historic slow growth policy implemented by city planners and Davis residents themselves (through Measure J voting) along with the dynamic University of California, Davis campus bordering central Davis, makes this a strong real estate market, a good community for real estate investors (see Investing in Davis), and a great place to live and raise a family.
Contact me anytime to find out more. If you are thinking of buying a home in Davis, you can start your home search now.
If you are a Davis home owner and are thinking about selling, go to "What's My Home Worth?" and I'll send you out a market analysis showing the other homes that have sold in your neighborhood and provide you an estimate of what you can expect yours to sell for.
Vicki Walker, Realtor
California DRE License # 01033786
Coldwell Banker, Doug Arnold Real Estate
505 Second Street Davis, California 95616