This report is generated around the 20th of each month once the previous months numbers have been posted. What we see here is a report generated for the Yolo County Housing Market which includes West Sacramento, Davis, Woodland and surrounding areas through March 2022. So we are always looking a month behind. Our statistics are derived from the Metrolist This is the Multiple Listing Service provider for all real estate brokerages in the Tri-County region. If you have questions or wish to know a more specific account of your properties value and the timing of either selling or buying we are always happy to jump on a Zoom or meet with you at your property to evaluate and discuss a strategy. We can be reached via cell/text 707.580.3499 or email us at concierge@elitepartnersrealestate.com
The Spring selling season has officially kicked off as our pending sales (Future Sold) properties has shot straight up gobbling all the inventory up. Pending sales are up +27.4% month over month. It is important to know these numbers are down -9.4% year over year. We sold 119 homes in March 2022 which was +26.6% month over month but down -15.6% year over year. We listed 84 properties in this same period which was up + 21.7% month over month and up +5.0% year over year. The +5% year over year is significant as it is the first month we have seen an increase in inventory year over year since pre-pandemic March 2020.
We set a record for our average price per square foot in March at $404.00 which is a +6% increase month over month and a +30.7% year over year increase. We also set an all time high record for average sales price of $737,000 as an average. This is barley a +.07% increase month over month but a whopping +27.3% year over year. You are literally making more money living in your home than you did from your job. Think about this. Owning a home at $579,000 a year ago represents a increase of $158,000 for the year, or income at $13,166.66 a month, or $3,291.66 a week or $470.23 a day 7 days a week. If you consider that data supports Davis residents earning a medium income of $33,646.00 a year. It pays to own.
Finally, our DOM (Days On Market, slide down to 12 days tied with our lowest timeframe ever. This represents a -47.8% decrease year over year. This while our list to sold price shot up to +105% this means a buyer should expect to pay 5% over the listed price of the average home. With rising interest rates and most economist predicting doom and gloom it might be the best time ever to dive into home ownership Waiting is costing your thousands of dollars every month.
The opinions expressed in this report are those of Don McDonald, Founding partner, and REALTOR with RE/MAX Elite Partners brokered through RE/MAX Gold. They are not in any way intended to express what RE/MAX, RE/MAX Gold or any other agent or brokerage may think. It is my honest analysis backed but some market data. Check back each month around the 25th or so for an update as we continue down this path.
About Elite Partners
The diverse and high performing team at Elite Partners epitomize integrity, energy, hard work, and service throughout each transaction they conduct. The Elite Partners have been responsible for over $1 Billion in transactions over the last 13 years and have ranked in the top ten worldwide within RE/MAX.
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If you live here already, you know how blessed we are. If you’re considering living or investing here, you’ve probably experienced some of the area’s extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you’ve arrived at the right spot. Whether you’re looking to buy your first home – or to sell an estate – expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
Mike Martin and The Elite Partners were a great help in finding our first home , he answered all our questions and was honest on what he could and couldn’t do. When we contacted him he got back to us within a few hours which was great , it made the whole process less stressful and fore the most part pretty easy. We love our new home and would happily recommend Mike and the RE/MAX Elite Partners.
-Jason & Amanda
Steve Cohn is an excellent realtor. When my wife and I were buying our first home he was eager to help. He knows and understands the process of buying a home as well as the market very well. Steve and the RE/MAX Elite Partners were responsive and helped us out the whole way through. I will surely use him in the future and have recommended him to a number of people already.
-Melissa & Steve
It was a pleasure to work with Victoria to sell our first home. She was very knowledgeable and helped us through the hole processes. She made sure we understood what was happening and what we needed to do as sellers. If we were staying in the area we would have helped her find our new home as well. She and The Elite Partners were able to refer us to another great agent when we purchased our next home. I highly recommend her if you are looking to buy or sell your home.
-Rachel Demario
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