– MARKET UPDATE –
Hello, hello! It's hard to believe that K-12 starts back up next week. The summer break went by too fast! I hope the UC Davis students and educators are relishing their remaining month off! For the rest of us, enjoy the ability to get into a coffee house downtown for another month. ;)
The team has been busy. Maria has a beautiful listing in The Cannery, Marcela is closing two escrows this period (one buyer, one seller), and I helped buyers get into contract on a great duplex in Central Davis. In addition, I have a very cool listing in Stonegate that will be on the market this week. The home sits on one of those rare lots on the western perimeter of Stonegate that backs to the farmland. The property is unassuming from the front, but the interior is very cool with lots of recent upgrades. It has three bedrooms and three bathrooms plus a nice loft and owned solar. The layout is pretty special with all the living space on one floor except for a bonus bedroom, loft and bathroom upstairs.
In terms of inventory, there are 98 active and 34 pending properties currently. Over the past two weeks, we have seen the following:
- Twenty-two new listings came on market. Five have already gone pending.
- Prices range from $465,000 for a two bedroom condo (re-listed) all the way up to $2,655,000 for a 5,727 square foot property in El Macero
- Median active price is $929,000, and average price is $984,435.
- Eighteen listings went pending and as noted, above five were new.
- In comparison, the average days on market were 48. Well done.
- The median pending price is $837,450 and average pending price is943,239.
- Only three of the pending listings received multiple offers - two were new on the market.
- The majority of closings were under the list price - even some that were new on the market.
- Only one property received multiple offers. The list price ($729,000) seemed competitive given the square footage (1,539 sf), condition and location. This was the only listing that sold above list price. The prevailing offer was cash.
- Seven closings were cash, and six were conventional. If im recalling correctly this is the first time this year that cash closings have exceeded financed closings.
If we compare to the previous newsletter, we see new listings went up from 10 to 22, pending listings went up from 15 to 18, and closed listings went down from 17 to 13. So, writing offers this time of year is still a thing. Yay! Although we still see seasonal shifts, perhaps they are not as pronounced as they used to be. We will have to watch and see. Hope everyone has a glorious weekend! Swing by the open houses at 3413 Oyster Bay Saturday and Sunday if you get the chance! The next newsletter will be September 4th, 2025.
Best,
Lori Prizmich
– NEARBY HAPPENINGS –
Downtown at Dusk on G Street at 6pm
Ready to get your groove on? The Davis Downtown Business Association is hosting “Downtown at Dusk,” a series of evening events on G Street starting on Aug. 28 at 6 p.m. The event will reoccur every other Thursday through mid-November. The City is an event co-sponsor. There will be live music and local businesses will offer special discounts to celebrate our vibrant downtown community!
– PICK OF THE WEEK –
Recipe: Panazella Salad
Picked by: Lori Prizmich
Panzanella salad with hearty Italian bread, tomatoes, shallots and basil, tossed in a light and tangy dressing. If you like, add fresh mozzarella cheese. Toasting the bread in the oven for a few minutes produces the best texture. How long you allow your panzanella salad to sit is up to you, I find 30 minutes to be a good amount of time for the flavors to meld and for the bread to soak just enough of the dressing without getting too soggy.
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