2008 has been a year where each month more homes were sold in Davis than the previous month. Then we seemed to top-out in June with 65 single family home sales.
After dropping to just 36 homes sold in July, with the Average price per square foot falling below $300, sales of single family homes in Davis, California rebounded slightly in August.
The accompanying chart tells the story:
As you can see, the number of homes sold steadily increased each month to a peak of 65 in June, then fell off to 36 in July. It has now rebounded to 46 in August. Meanwhile, the average price per square foot has remained in the $300 to $335 range all year.
Compared to other markets around the country, Davis has not seen the drastic decline in home values as other markets (see my previous post below). There is a certain seasonal nature to home sales in the Davis market, due to the University summer break. It presents a natural time for owners of homes used as student rentals to sell while the home is not occupied.
There are currently 112 single family homes and 20 condos listed in the MLS for Davis.
Average days on the market remains at 57, just about where it was a year ago
- Vicki Walker
