-MARKET UPDATE-
Hello, hello! Hope everyone had a lovely weekend. The Fed announced a proposed quarter point drop in the interest rate. Don't know if that will impact real estate activity, but we shall see. In real estate news, we’ve updated our systems to better serve you! Our website now features a much easier to use home valuation tool and mortgage calculator. You can also explore our newsletter archive and subscribe to our other newsletters in Davis, West Sacramento, or Vacaville. Check out the updates and let us know what you think!There are currently 97 active and 32 pending properties in Davis. The prices for active properties range from $379,000 to $6,550,000. The number of days on market for pending homes is 54 (average) and 37 (median).
Over the past two weeks, we have seen the following:
- Thirteen new listings came on the market - four have already gone pending.
- Median active price is $$950,000 (average $1,016,000).
- Median days on market are twelve (average eight).
- Fifteen listings went pending.
- Median pending price $870,000 (Average $978,000).
- Three of the pending listings received multiple offers.
- Nine listings closed escrow.
- Median closed price $755,000 (average $885,000).
- Two closings received multiple offers.
- Six closings were under the list price.
- Two closings were cash, five were conventional, one 1031 exchange, and one "other."
As is typical this time of year, the number of new, pending, and closed listings are declining. We aren't seeing an increase in multiple offer situations just yet, so the new related to interest rates has not translated to buyer interest (yet). As always, we will keep an eye on everything happening in the local market and keep you updated! If you have any remodeling plans, reach out for a second opinion. We are always happy to weigh in on what buyers are looking (and paying for)!
Image description: Metrolist Chart showing active, pending, and closed listings in Davis
– NEARBY HAPPENINGS –
Taste of Davis and Yolo 2025 Sunday, September 28 · 6 - 8pm - Davis Odd Fellows Lodge 415 2nd Street Davis, CA 95616
Enjoy a variety of outstanding foods, wines, desserts, beer, and more from 15 local purveyors from throughout Yolo County!
– PICK OF THE WEEK –
TORTELLINI SOUP BY NY TIMES COOKING
Store-bought cheese tortellini make this easy vegetarian soup a breeze to put together at home. The stuffed pasta cooks in minutes and floats in a creamy, tomato-y broth that’s loaded with vegetables. A splash of vinegar enhances the tomato flavor and provides a bit more acidity, and chopped herbs, added at the end, offer some freshness. This soup works well with substitutions like swapping kale or other hearty greens for the spinach, for instance, so feel free to use whatever produce you have on hand. Whatever you do, don’t skimp on the grated Parmesan at the table.
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P.S.
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