Refresh Newsletter 01/19/2024

– MARKET UPDATE –

Hello, hello! Looking out the office window...sunshine! Every other day the sun comes up a minute earlier and every evening the sun goes down a minute later until we reach Summer Solstice, which is the longest day of the year (see the tip re: Sunrise Times app below). I bring this up because as the days get longer, buyers have more time and enthusiasm to look at homes. Interestingly, I heard from a colleague in San Jose whose clients wrote an offer, but the prevailing buyer went $130k over the list with no contingencies. The seller received 38 offers and accepted one that was ten percent over list price.

The goal of this newsletter is to give you context for what is happening in the Davis market. Using the example above, perhaps that property was underpriced, maybe the buyers' ailing parents live next door, or the situation was an outlier of some type. With 38 offers, the property was obviously in HIGH demand!

In Davis, there are 28 active properties on the market. Twelve new listings hit the market over the past two weeks with 3 of the new listings going pending. Of the total pending transactions, MLS indicates that five were multiple-offer situations. Apply skepticism because three indicated multiple offers after 27 to 61 days on the market which causes me to raise an eyebrow. Perhaps, the listing agents are including consecutive versus concurrent offers which is not the intention of the data point. In any event, five listings closed with two properties squeaking over full price. Not bad for the middle of winter. Of the five closings, three were cash.

Image description: Metrolist Chart showing active and pending listings in Davis

– NEARBY HAPPENINGS –

Kings vs the Atlant Hawks I Golden 1 center 500 David J Stern Walk, Sacramento, CA 95814 I Monday, Jan 22nd @ 7 pm

Experience the excitement of live basketball as the Sacramento Kings go head-to-head against the Hawks this upcoming Monday! Secure your tickets, sport your team colors, and join us at the arena for a thrilling Monday night of basketball.

The Napa Lighter Art Festival I Downtown Naps I Jan 20th-Feb18th I Friday - Saturday 6-10, Sunday - Thursday 6-9 pm

The Napa Lighted Art Festival is a celebration of creative arts, technology, and lights, and supports innovative techniques using light and light technologies as a growing art medium.

This walkable outdoor experience is FREE in Downtown Napa featuring 10 lighted art sculptures for five weeks, and projection artwork on three iconic downtown buildings for the first nine nights of the festival.

– PICK OF THE WEEK–

The Smart Axe

Picked by Marcela Cardenas

Unleash your inner lumberjack at this hidden gem near the Rocknasium! Step into a unique world where precision meets adrenaline, and experience the excitement of hurling axes at wooden targets. Come enjoy a 60-minute throw with a buddy or two for 25$ an hour.

– TIP OF THE WEEK –

App: Sunrise sunset times

The app also shows exactly how much daylight is left in the day - in a large, easy-to-read display - so you can plan ahead to the last ray of sunlight. Download it now.

P.S.

Use the QR code below to follow our team's Instagram account! Here you'll get the hottest updates on our listings and upcoming open houses!