High end of Davis market heating up

In just the last 3 days we’ve seen 4 new pending sales of homes of $799,000 or higher:

43428 Almond Lane, in Willowbank, 2,318 sq. ft., asking $799,000 sold in 6 days

5604 Cowell Blvd. in South Davis’s Warmington development, 2,836 sq. ft., asking $839,000 sold in 15 days

3708 Los Cerros Place in Lake Alhambra, 2,813 sq. ft.. asking $949,000 sold in 2 days

1501 Chalupa Place, also Lake Alhambra, 4,870 sq. ft., asking $1,695,000 sold after 118 on the market.

The Davis market often heats up in February, and this one is proving to be no exception. We are nearing the bottom of the price correction which begun in late 2005, in my opinion. The inventory of listings remains low with multiple offers becoming more frequent, two bullish factors.