Davis - July 10th, 2025

– MARKET UPDATE –

Hello, hello!

Hello, hello! What a fabulous weekend! I went mountain biking in Marin on Friday, worked Saturday, and went trail running at Lake Natoma at sunrise Sunday. I happily spent time in my "communities" over the weekend. I've been contemplating a lot about the importance of community - in all its forms. My communities include sports, spiritual (meditation), professional, and geographic among others. We have probably all been involved in a multitude of communities: book clubs, PTA, support groups, volunteering, church, professional and political organizations to name a few. One of the many benefits of community is that we are among others with a common interest or experience. It gives us exposure to people with whom we might want to develop a deeper relationship. Being part of a community is a responsibility. We have to be present and consistent. Otherwise, we never "become" part of the community.  

Within our local Davis community, we have even smaller communities such as Stonegate, The Cannery, and Village Homes. The newest community to Davis, Bretton Woods, seems to have a lot to offer the mostly 55+ crowd. Our team visited recently for a closer look now that it is taking shape. Perhaps surprisingly, Bretton Woods isn't restricted to 55+, and in fact we heard a story about a young family that opted to build there so their children would have a whole village of "grandparents!" In our Davis community, there are currently 104 active and 27 pending homes, respectively. 

Over the past two weeks, we saw the following: 

• Twenty-four new listings - eight of which have already gone pending.
  
• Median active price $752,065 (average $709,002).
  
• Price range of $390,000 to $915,000. 
  

• Seventeen listings went pending.
  
• Median pending price $919,000 (average $1,131,765). The property at 43195 Montgomery brought the average up. After 570 days on the market, two different realtors, and six price reductions, Montgomery is pending!
  
• Thirty-five percent of pending listings received multiple offers - including six offers for 1208 L Street (lower end of the price range). All but one of the other multiple offer situations received just two offers (ie: property on Alice received three offers).
  

• Nineteen listings closed escrow.
  
• Median closed price $915,000 (average $1,092,250). 
  
• Twenty one percent (4) of closings received multiple offers with the highest being 4.49 percent over list price. No listing received more than two offers. 
• More than half of the closings were under the list price. All of the cash offers closed under the list price. 
  
• Four closings were cash, two were VA and the remainder were conventional financing.
  

Overall, multiple offers are trending downward, probably because inventory is higher. Buyer selection is being distributed over a greater number of options. This looks like a straightforward case of supply and demand. In 2025, we've had 222 closings versus 192 for the same period last year. There is the tricky variable of the real estate "season" which can compress or expand with the weather. My educated guess is that buyers tend to look more frequently when the weather is nice. In any event, if you have an opinion, please let me know! Would love to hear another perspective and feedback is always appreciated.

The next newsletter will be July 25th, 2025. To access the Refresh Newsletter featuring neighboring communities, click or scan the QR codes at the bottom of this email.

Best,

Lori Prizmich

– NEARBY HAPPENINGS –​​​​​​​