Davis Real Estate - Year End Stats

Well, another year comes to a close for Davis, California real estate.

So we make a quick check to see how the market did compared to 2007. 

Although no chart goes up forever, we count ourselves lucky in Davis that our housing market has not been hit as hard as some other areas of the country.

In other areas of the Central Valley, we have seen the volume of sales increase in 2008 because the median home price was falling at 20% or more from 2007. In some area markets, 50% or more of the sales are short sales or foreclosures.  This is not the case in Davis.

Since prices have remained relatively stable in Davis (down just 5% from 2007), we have not seen the pick up in sales volume that other towns in the Sacramento area have experienced. The chart below provides a comparison of Davis, Woodland, Roseville and Elk Grove.                                                                                                                                                                                  

Notice that the more the median home price falls, the greater the increase in unit sales, particularly when the median price falls below $300,000. Then the buyers come out seeking bargains.

Of course there are other factors that influence these numbers and each market has its own attributes,  which influence the real estate market.

In previous posts, I have explained in detail why Davis is a unique area and does not always follow the real estate trends of the surrounding communities. The 2008 year end figures bear this out once again.

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