– MARKET UPDATE –
Hello, hello! I hope everyone had a nice, relaxing weekend. We currently have 54 active properties on the market - 19 in the past two weeks. Of those, five have already gone into escrow for a total of 20 pending transactions. Interestingly, there seem to be more new listings at the entry level than usual with nine listings under $700k.
Of the 20 pending transactions, six received multiple offers, which is a drop from previous newsletters this season. The new listing on E Street received four offers, and the listing on Dogwood received three offers. The remaining two multiple-offer situations received only two offers each. The market does not seem as robust as earlier in the year. That may be good news for buyers!
There were ten
closings in Davis in the past two weeks. Our team represented sellers on Golden Sunray, buyers on Caceres and both the buyer and seller on Denison! We are seeing quite a few MOP loans (UC Davis' portfolio lending). There were only two cash transactions
during this period, which is lower than average. From the closed transactions, although half were multiple offers, they were only 2-3 offers each. So again, buyer activity appears to be down a bit.There have been 191 sales in the past six months or 31
home sales a month on average. There are currently 54 active properties, so only 1.74 months of inventory. Still a strong sellers' market.
Lastly, we wanted
to share with you an off market LPA listing at 1004 Green Zebra Terrace. This is a spectacular Cannery home with 3 bedrooms, a den, and 3 full bathrooms.Image description: Metrolist Chart showing active and pending listings in Davis
– NEARBY HAPPENINGS –
Urban & Farm Market – Celebrating Plastic Free July! I July 14th, 11am-2pm I Davis Food Co-op I 620 G St in Davis
Join us for live music, free samples, beer & wine, local artists, kids activities & more. Food vendors include Purple Tree Café and Davis Creamery. We’ll be grilling house made brats including vegan options.
California State Fair I July 12th - July 28th Mon-Thurs: 11am-10pm Fri-Sun: 10am-10pm I Cal Expo, 1600 Exposition Blvd Sacramento
Come to July's California State Fair in Sacramento for beer and wine contests, horse races, and acts like Melissa Etheridge and John Michael Montgomery.
– PICK OF THE WEEK –
Split Rock Tap & WheelPicked by: Lori Prizmich
I recommend getting out of the heat! Napa Valley Bike Tours rents both regular mountain bikes, e-bikes, and demo bikes (if you are looking for a higher end bike). They are super helpful and friendly. I did a more technical trail (not recommended for beginners or kids) but they can recommend a ride for whatever your skill level. If you like it even cooler, head to Fairfax where the highs temps are in the 70s and 80s. Check out Split Rock Tap and Wheel in Fairfax.
P.S.
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