November and December are usually the slowest months in the housing market, and the final months of 2006 were just that. 30 homes, condos, and halfplexes closed escrow during each month, for a total of 60 (note that these numbers are actually indicative of market activity in October and November 2006 when most of the sales actually went pending).  These numbers were a bit lower than the 68 units sold in during the same time period of 2005.

In October, the average time on market of sold properties rose to 96 days, up from 50 in October.  Housing prices using my favorite measure, median price per square foot, were $306.32 in November, and $307.69 in December, back down to the range of the $310.12 per square foot in September.  The more volatile median sale price also fell significantly to $562,000 in December from $605,000 in October, and the average price per square foot fell to $313 in December from $330 in October.

The overall inventory of homes, condos, and halfplexes in Davis fell very sharply to 107 units, from 176 units at the writing of the last Newsletter, and down from a high of about 265 in the Spring.

The sub-$300,000 market has moved into technical "sellers' market" territory with six units on the market and two sales in the last 30 days.  It is quite possible that the La Buena Vida condos (the little condos off of Pole Line Road) have found a price bottom in the $235,000 to $250,000 price range.  However, although there are only six units for sale under $300,000, in the last couple months, three listings have expired without selling, and two more have been cancelled, all without reappearing.  My guess is that of these five units not on the market, most if not all will be back this Spring.  This market is still likely in a "buyers' market", for practical purposes.

This price range continues in "buyers' market."  Although there is just over four months technical supply (with four pending sales in the last 30 days and 17 active listings), there are more than a dozen cancelled or expired listing that will no doubt reappear in the Spring.  Price concessions achieved by buyers are inconsistent, but with some buyers getting more than $20,000 off list prices.

With 20 units on the market, and 5 pending sales in the last month, this price range remains in technical "neutral market" territory.  Price concessions are now are typically in the $10,000 to $15,000 range.

19 homes closed escrow in this price range in November and December.  That's quite a few.  Right now, with 22 units on the market, and 4 pending sales in the last month, this market segment is technically close to "buyers' market" territory.  Price concessions have been all over the board. There are 17 expired or cancelled listings, most of which will probably reappear this Spring.  But given the large number of sales at the end of this year, I wonder if this price category might heat up before long.  The high $500,000 range is where you can now get a good all around house.

Inventory in this price range fell to 17 units.  Only one pending sale was registered in the last 30 days, placing this market segment in "buyers'" territory.  Price concessions were all over the board, with one $99,000 below list price.

Inventory fell to 11 listings in this price category.  With no pending sales in the last 30 days, this price range is in technical "buyers' market" territory.  However, in November and December, normally very slow months, seven homes in this price range closed escrow.  A buyer in this range can expect to get about $20,000 off list prices.

With only 6 listings, and two more pending sales in the last 30 days, this price segment continues in technical "sellers' market" territory.  However, there are at least half a dozen properties in this range that have been removed from the market and may be back this Spring.  Price concessions were again all over the board, some as high as $100,000, some selling at the list price.  

Inventory in this price range is now only 9 listings, and there were two pending sales in the last 30 days, placing this segment in "neutral market" territory.  There are not all that many homes in this price range that have been temporarily removed from the market, as far as I can tell.

With nine listings and one pending sale in the last month, the income property market is technically in "buyers' market" territory.

Newer 4/3, 2000-plus square feet in South Davis, in the $550,000 range.  Strange circumstances make this home a steal.    For info, please call me at (530) 219-1000.

Newer 5/3, almost 2200 square feet, three car garage in East Davis.  Might get it for around $565,000.    For info, please call me at (530) 219-1000.

Modern 4/4 with three years left on builder's warranty, almost 3000 square feet.  Granite, hardwood, etc.  Excellent location.  $745,000.  This looks like an incredible deal to me, and I'll be amazed if it doesn't go fast.  For info, please call me at (530) 219-1000.

Really cool 5/3 architect-designed house in Willowbank on almost half an acre.  It's price has come down about $200,000 and you could probably get it for around $890,000.  This looks like an incredible deal on an incredible house to me.  This is a special house for a special person who will "distinguish themselves" by living there.  If you are moving to Davis and want a house that will impress locals when they find out where you live, this is a good candidate and a truely rare opportunity.  For info, please call me at (530) 219-1000.

Huge, modern, beautiful home of .75 acre in the Northern part of Davis.  It's got everything, except a place for your horses.  You could get it for about $1,200,000.  This is a very good deal, in my humble opinion.  For info, please call me at (530) 219-1000.