Here is a quick report comparing the sales figures for single family homes in 2007 against the statistics from 2006. The first graph is for Davis and the second is for Woodland. As you can see, the two markets reacted differently to the current slow down in housing demand, with Davis doing much better than Woodland.
Of course this also means that the better bargains are to be found in Woodland currently, as it has seen prices retreat further from the market highs.
| | DAVIS, California | | | |
| | |
| | 2006 | 2007 | Change |
| |
Number of Homes Sold | 531 | 507 | -4.50% |
| |
Median Price | $569,000 | $525,000 | -8% |
| |
Average Days on Market | 55 | 58 | + 3 |
| |
Average Price | $596,922 | $570,320 | -4.50% |
| |
Total Dollar Volume for Market | $633,931,400 | $578,304,200 | -9% |
| | | | |
| | WOODLAND, CA. | | | |
| | |
| | 2006 | 2007 | Change |
| |
Number of Homes Sold | 470 | 324 | -31% |
| |
Median Price | $395,000 | $359,000 | -9% |
| |
Average Days on Market | 72 | 92 | + 20 |
| |
Average Price | $416,258 | $384,128 | -8% |
| |
Total Dollar Volume for Market | $391,282,300 | $248,504,700 | -36% |
| | | | | |
Considering that these two towns are just 6 miles apart and about the same size in population, you see a marked difference in the way that the real estate markets in these towns have changed over the last year.
;)
;)
