Real Estate Newsletter Saturday, August 2, 2008

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Mr. Whitcombe is a full-time Realtor and licensed attorney, focusing exclusively on residential properties in Davis, California
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THE DAVIS CALIFORNIA REAL ESTATE NEWSLETTER

  In This Issue:
*  Note From Joseph

*  Davis Real Estate Report For August 2008

*  Charting The Davis Market

*  Market Conditions By Price Category

*  Davis Approves Small Housing Development

 

Note from Joseph:  July 2008 was a very slow month, with only 45 transactions closing escrow.  Given that there are about 100 Davis real estate agents, that means that each agent saw, on average, only one deal close in July (there are two sides to every transaction), traditionally one of the year's strongest months.  Given the fact that a few "celebrity-model" agents (i.e., agents that like to put their pictures on benches) had five or more sales, about half the agents had literally nothing to do in July.  Many will surely be finding new lines of business before long.  Real estate is a very tough business right now.

Interestingly, despite the subdued level of sales, inventories have dropped to low levels for this time of year, far, far, below what they were during the falling markets of the last two years.  There are currently only 134 units on the market in Davis, down from...

 

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The information in this newsletter is thought to be accurate, but not guaranteed and should not be relied upon for any reason.  The opinions in this Newsletter are provided  in good faith, but are not guaranteed to be accurate and should not be relied upon.  If you want advice you can rely on in making decisions about real estate matters, you should directly consult a real estate broker. The information regarding market conditions in this Newsletter was derived on August 1-2, 2008, and is believed to be accurate as of that date.

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