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Homes of Davis
julie leonard - RE/MAX Gold
For 2019. sales prices dropped slightly from 2018 but still above 2017. The # of sales increased.
Prices have climbed since last year and the number of sales have too.
For 2017, prices are up over 8% & number of sales is down 9%
Davis home prices will stay stronger than most communities because Measures J/R that were passed several years ago requires voter approval of any new subdivision outside of the existing City limits. Some small infill projects are underway.
The Cannery is the only large subdivision that is currently on the market and is nearing completion.
Residential sales prices last year climbed a bit from the previous year. Davis homes are still often selling over the asking price but not as often as in the recent past. Partially due to limited new construction, the number of homes sold in Davis has stayed low over the years. The number of sales has continued to drop every year since the peak in 2004. All markets, stocks, bonds, homes, etc. are driven by supply and demand. The current supply in Davis is low. Many factors may be influencing that but one is the lack of new smaller homes for people to downscale into. A number of families have downsized out of Davis.
With the virus, sales were down 9% but sales prices were 4.5% higher than last year.
*Data used for the Davis tables and graphs are from the Metrolist Multiple Listing Service. It is believed correct but is not guaranteed. It does not depict all sales in Davis.
For 2018 vs 2017, the number of sales are down about 9% but prices were 11% higher.
The Davis market continues to be strong. there are still a number of programs available that do not require a 20% down payment.
Some buyers are using FHA loans to get into homes with only 3.5% down plus FHA and other closing costs.
Rates and fees are changing constantly so check with a good lender to find out what rate and max loan you can get, what all the closing fees are and what your payment would be.