– MARKET UPDATE –
Hello, hello!
Happy Summer Solstice! I went mountain biking in Marin on Friday, attended a college graduation party on Saturday, and worked Sunday. It was a relatively balanced weekend with physical, social, and professional activities. Speaking of balance, we are moving toward a "balanced" market (see last paragraph for more). In a balanced market, buyers and sellers are typically making equal concessions.
There are currently 100 active properties on the market and 32 pending properties. Over the past two weeks, we have seen the following:
- Twenty-nine new listings came on the market ranging in price from $387,000 to $1,788,000.
- Six new listings have already gone pending.
- The median active price is $755k (average $869k).
- Fourteen listings went pending ranging in price from $383,576 to $2,400,000.
- The median pending price is $852,000 (average $950k).
- Four of the pending listings received multiple offers but only two each. So, fewer than one third of the pending listings received multiple offers.
- Fifteen listings closed escrow.
- The median closed price was $805,000 (average $823,000).
- Six closings received multiple offers. La Paloma received the most with five offers. It was a bright, low maintenance, move-in ready, newer (for Davis) property. It ended up closing almost seven percent over the list price (cash).
- More than half (nine) of the closed properties settled under the list price.
- Four closings were cash, and the remainder were conventional financing.
Here's a crazy stat. I went back 365 days to see how many closings Davis had in the past year. Can you believe it was 365?!? I was looking for the number of sales we have per month on average (30). Then we take the current inventory (100) and divide it by average monthly sales (30) and get 3.33 months of inventory. Depending on who you ask, fewer than four months of inventory is considered a sellers' market. So, it would appear we are still in a sellers' market but moving toward a balanced market. Whether you are buying or selling, you can count on us to know what is happening in this market and to represent you accordingly. Grateful to everyone who reads this newsletter. Yes, you! :)
The next newsletter will be July 8, 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 –
Something Rotten | June 26-28 various times | Woodland Opera House, 340 Second St Woodland
The musical Something Rotten! is a comedic musical that tells the story of the Bottom brothers, Nick and Nigel, who are playwrights living in Elizabethan England. The plot is set in 1595, when the Bottom brothers are struggling to compete with the wild success of their contemporary, William Shakespeare. Desperate to write a hit play, Nick consults a soothsayer who foretells that the future of theater will be "a musical." This leads the brothers on a hilarious journey as they attempt to create the world's first musical.
– PICK OF THE WEEK –
Podcast: Being Well, Forrest Hanson
Picked by: Lori Prizmich
Forrest Hanson is joined by clinical psychologist Dr. Rick Hanson and a world-class group of experts to explore the practical science of lasting well-being. Conversations focus on the key insights from psychology, science, and contemplative practice that you need to build reliable inner strengths, overcome your challenges, and get the most out of life. New episodes every Monday.
– REFRESH NEWSLETTER QR CODES –
P.S.Click or scan the QR code below to follow our team Instagram account! Here you'll get the hottest updates on our listings and upcoming open houses!
