– MARKET UPDATE –
Hello, hello! Don't you love these longer days? I was able to sneak out for a quick mountain bike ride late afternoon on Monday at nearby Rockville Regional Park (20 minutes west) and still finish before dark. The trail was so beautiful and interesting. Great for hiking and trail running too. Don't forget, this weekend is DAYLIGHT SAVINGS TIME (Hurray!!!) and that means the real estate market is heating up. Currently, there are 61 active listings and 29 pending listings on the market in our little town. So, there are about half as many homes pending as there are active.
Over the past two weeks, we have seen the following:
- Twenty three new listings came on market.
- Median active price $998k (avg $1.226) - the difference in these prices in partly due to a spectacular luxury, country property listed by Re/Max Gold priced at $4,980,000 which is skewing the average a bit.
- Eighteen listings went pending - eight of those having just come on market in the past 14 days.
- Median pending price $844,000 (average $1,030m).
- Seven of the pending listings received multiple offers but only one was really competitive with four offers (ie: 2123 Humboldt).
- Interestingly, three of the multiple offer situations were on the newer high-end listings (Country Club, Meadowbrook, and E. Oakside).
- Twenty-one listings closed escrow.
- Median closed price $$865,000 (avg $1,030m). County Road 31 skewed the average a bit at $1,637,000. Congrats to my happy buyers on that incredible property!
- Six closings received multiple offers.
- Thirty eight percent of the closings were under the list price. Let's keep an eye on this percentage as the season progresses.
- Three closings were cash, but the vast majority were conventional financing. If you haven't been introduced to our preferred lenders, let us know. They are so good, they often prevail against cash offers! As with your Realtor, your lender's reputation matters.
Here's are some fun facts about Davis real estate: Re/Max Gold represents 36% of active listings, 36.9% of pending listings, and 34% of all closings! The second highest ranking company was barely in the teens for these same measures. On a related note, I took a quick dive into the stats for active listings and found that nearly half are represented by non-local agents. So, I have a question for my readers. What is your most important consideration in choosing an agent? Please share my name with your family, friends, and colleagues. Would love to help!
Image description: Metrolist Chart showing active and pending listings in Davis
– NEARBY HAPPENINGS –
Second Sundays at Sudwerks I Sunday March 9th, 4:00 - 6:00 PM I 2001 2nd St, Davis
Spring forward into short fiction! This Sunday at Sudwerk Brewing Co., 4-6 p.m. Free with optional donation, no reservation required.
Rumi's Caravan I Saturday March 15th, 6:30 - 9:00 PM I Veterans Memorial Center Theater, 203 E 14th St
Rumi’s Caravan returns to Davis on Saturday, March 15, bringing its acclaimed blend of spoken-word poetry and music. For 25 years, the group has performed across Northern California, weaving together works by Rumi, Hafez, Yeats, Mary Oliver, Maya Angelou, and more. Through an improvised poetic conversation with musical accompaniment by Matthew Grasso, the performance moves from prayer and grief to humor and celebration. Delivered in the oral tradition, it offers a deeply engaging experience.
This event benefits Grace Garden, which provides fresh produce for those in need, and Empower Yolo, supporting survivors of domestic violence and other crises. Suggested donation $20-$40 (cash, check, Venmo) at the door.
– PICK OF THE WEEK –
Restaurant: La Cheve Bakery and Brews I 376 Soscol Ave, Napa, CA 94559
Picked by: Marcela Cardenas
Take a bite of history: Napa's oldest adobe building, circa 1840, is now home to relative newcomer La Cheve Bakery and Brews. The woman-owned Mexican hotspot serves excellent comfort food and awesome baked goods. Of course that's a winning combination for long wait times, so your best bet is to come on the early side!
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P.S.
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