Saturday, April 15, 2006

Local Closeup: Davis Inventory

Commenter Fishtaco sent in this chart that shows Davis MLS inventory since the end of January. The data is derived from the Sacbee website using all prices ranges with no limits (no land or multiplexes). "From the open houses I have been to realtors have said the listings are up anywhere from 70-100% YOY."

Feel free to submit information about your local housing market. Photos, graphs, or observations are much appreciated.


Anonymous said...

Nice chart. I live in Davis and there are for sale signs everywhere. It will be really interesting to see where inventories are 90 days from now. We have lots of investors in this market. I looked at a craphole that sold for 380k about 3 years ago, and that pig just came back on the market at 650k. There are many similar properties coming back onto the market. At the price many investors bought these properties over the last 3 years, rents do not cover mortgage payments as tll, let alone taxes. We will see who wins the tug of war, but good money would be on prices taking a dump when the pile up gets excessive. The change in market tone is palpable, you can feel it. People are no longer chasing just to get in.

fishtaco said...

Investor example. There is a newly listed place at 540 Oak in Davis that is advertised as a 650k teardown. It sold this past January for 580k. 70k in 3 1/2 months? Basically anything over 700k is justing sitting and not selling. People are hoping for the bay area shoppers.

sf jack said...

I say: "Davis SFH for everyone!"