DAVIS, WOODLAND, WINTERS & BEYOND · THE DAVIS ENTERPRISE · FRIDAY, DECEMBER 17, 2021
1336 Brown Drive COURTESY PHOTOS
Offered by Maren Heise, Lyon Real Estate, page 3
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
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New Home For The New Year? SALE PENDING!
Pandemic continues to reshape California homebuying journey
T
he COVID-19 pandemic continued to drive strong homebuying interest and intensify market competition while changing consumers’ housing preferences and fueling sellers’ home equity, according to the California Association of Realtors’ (C.A.R.) 2021 Annual Housing Market Survey. Remote work changes homebuying preferences The pandemic continued to change consumers’ housing preferences as more employees continued to work remotely. According to C.A.R.’s 2021 Annual Housing Market Survey, only one out of 10 Realtors said they did not notice any change in buyers’ property preferences due to the pandemic. Since the coronavirus outbreak, Realtors noticed a change in buyers’ preferences in the property type they want to purchase. Of those changes, 22 percent of Realtors who responded said their buyers wanted a bigger home; 22 percent said buyers were less concerned about the commute time to work; 21 percent said buyers preferred a single-family home rather than condo/ townhome; 19 percent said buyers wanted to live in a suburb rather than a city; 19 percent said buyers desired a property with more rooms; 13 percent said buyers sought to live in rural areas rather than cities or suburbs; 9 percent said buyers wished to live in a more secluded area.
Buyers tired of renting With remote working becoming the norm, buyers’ reasons for purchasing in 2021 were unchanged since the Coronavirus outbreak, with the top three reasons remaining the same as last year. More than one-fourth of Realtors said their buyer clients purchased a home because they were tired of renting; one in five said their buyers purchased because they desired a larger home; and one in six Realtors said buyers bought because they wanted a better location. A small number of Realtor respondents cited “ability to work from home” as their clients’ primary reason to buy. The share was relatively small and was consistent with last year’s number. While the “ability to work from home” may never be considered a primary reason to buy for most buyers, it provides the flexibility for many to move to more affordable locations, which could lower the cost of buying. Sellers pocket home equity With the statewide median price expected to increase by double-digits from last year, home equity continued to grow in 2021. Home sellers typically pocketed a net cash gain of $322,500 from the sale of their homes — a 96 percent increase from the purchase price. Less than one percent (0.7 percent) of all sellers had a net loss from Continued on next page
1336 Brown Drive 4 Bedrooms • 2 Bathrooms 1,948 Square Feet This light, bright, completely remodeled home is the best of both worlds! It has the charm of a classic Streng Brothers home with the modern amenities you desire. The top to bottom remodel includes a new roof, skylights, HVAC system, windows and flooring; new kitchen cabinets, countertops and LG appliances; fresh interior and exterior paint and more. You will love the two separate living areas, one which opens up to the dining area and the kitchen, where you can gather with family and friends around the large island. Need extra flex space? Off the second living room, there are two small rooms, each perfect for a home office, reading room, play area, craft room or simply extra storage! Other features you’ll enjoy are the indoor laundry room, multiple walk in closets and the cozy fireplace and built-in bookcases in the family room. With an ideal Central Davis location, backing to Sycamore Park/Willet Elementary, this is one home you won’t want to miss!
Maren Heise DRE #02016744
530.400.3834 www.marenheise.com realtormaren@gmail.com
$1,050,000
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
Continued from Page 3
MARKET UPDATE
back to 1994. Home sellers who lived in their house for less than five years earned a 33 percent profit from their sale, while those who lived in their house for five or more years earned a 135 percent profit. Share of first-time buyers remains elevated The share of non-white homebuyers continued to grow this year, reaching more than 50 percent of all home sales for the first time since 1995 when C.A.R. began recording the statistic in the survey. In 2021, more than two out of five homes sold were purchased by white buyers (45 percent), followed by Asians (19 percent), Latinos (18 percent), and Blacks (4 percent). Despite the overall improvement, there is still a lot to be done to close the racial homeownership gap as the share of Latinos and Blacks continues to trail behind that of the general population. The share of first-time buyers dipped from 38 percent last year but remained elevated in 2021 at 36 percent. This year’s figure is still higher than any year between 2013 and 2019. First-time buyers typically have lower household incomes and smaller down payments but were motivated by low mortgage rates to jump into the housing market. Many of the first-time buyers were also first-generation buyers whose parents are renters and have never owned a home before. Record low interest rates and the flexibility to work from home not only created an opportunity for them to buy their first home, but also made it easier for them to become a homeowner and establish a financial foundation for their own family and future generations. Vacation/second homes still in high demand Demand for vacation homes or second homes remained elevated in 2021, as work-from-home policies solidified, and more workers who have this flexibility choose to live in resort communities, such as Big Bear, Lake Arrowhead, and South Lake Tahoe, which all saw sales increases at least in the double digits. The share of vacation/second home sales climbed to the highest level in nine years as more buyers searched for more space and a healthier lifestyle. Despite an improvement in the pandemic situation, more employers have adopted permanent remote working policies that allow employees to work away from the office.
Market competition intensifies With housing demand remaining strong and inventory reaching record-low levels, market competition intensified to levels not seen before in California. The share of sales with multiple offers and the average number of offers received climbed for the second year in a row in 2021, with both reaching their highest levels since 2013. The share of properties sold at above-asking price skyrocketed this year from 36 percent in 2020 to 61 percent in 2021. This year’s level was the highest recorded in at least the last 30 years and was 41 percent higher than the long-run average of 20 percent. Properties have been flying off the market at record speed, with a listing typically staying on the market for only eight days, the shortest time-on-market since the survey started tracking the statistic in 1986. Further illustrating the high level of competitiveness this year, more than half of homebuyers waived contingencies in the buying process to gain a competitive edge. Six out of 10 offers accepted by the seller were non-contingent offers, with half of buyers waiving the appraisal contingency (50 percent). A third waived the property inspection (30 percent), and over a quarter waived the contingency of securing financing. International buyers return Despite bans and restrictions on international travel, home purchases by foreign buyers bounced back in 2021, with its share reaching the highest level since 2014. The increase in sales to foreign buyers can be partly attributed to buyers in general getting more comfortable with buying homes virtually and sight-unseen. The strong performance in the housing market after the initial dip also may have motivated foreign buyers to return as their concerns of a market downturn eased. Chinese buyers continued to make up the largest portion (32 percent) of the market, followed by foreign buyers from India (17 percent) and Mexico (13 percent). As more travel restrictions are likely to be lifted next year when the COVID situation improves, prospective foreign buyers who have been sitting on the sidelines should return, and international home purchases could climb again in 2022. —California Association of Realtors
THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
Warm wishes from our home to yours! Have a wonderful Holiday season! Lyon Real Estate | 401 2nd Street, Davis | 530.758.0720 To see listings in Davis, Woodland and beyond, go to GoLyon.com
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
MALEK BAROODY
Broker Associate DRE#00759230
530.681.9555
©2003 Coldwell Banker Real Estate Corporation. ®, ™ and SM are licensed trademarks to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Equal Housing Opportunity.
RAQUEL PEREZ-MCDONALD
Realtor Associate DRE#01389120
DavisHomes4u.com 530.681.9557
Season’s Greetings to all our clients, family and friends. Thank you for your trust and referrals in 2021. We are ready for 2022.
THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
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FIRST NORTHERN BANK Terri Hirst, Mortgage Loan Representative DAVIS MORTGAGE LOAN OFFICE 508 Second Street, Suite 104 s THIRST THATSMYBANK COM www.thatsmybank.com/thirst Member FDIC
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
16, 2021 RISE · FRIDAY, APRIL THE DAVIS ENTERP · ND YO BE & S ER , WINT DAVIS, WOODLAND
nue
823 Peregrine Ave Offered by Kim Eichorn,
Lyon Real Estate, page
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The Davis Enterprise
2022 Real Estate Review
COURTESY PHOTOS
Upcoming Publishing Dates for 2022 January 14, 28 • February 11, 25 • March 11, 25 April 8, 22 • May 6, 20 • June 3, 17 • July 8, 22 August 5, 19 • September 9, 23 • October 7, 21 November 4, 18 • December 2, 16
THE REAL ESTATE REVIEW
Thank you buyers and sellers for another wonderful year!
HAPPY
2025 Catalina Drive NEW LISTING!
$749,000 UPSCALE DAVIS TOWNHOUSE! Rare opportunity awaits with this beautifully appointed executive townhouse with a private yard, 2-car garage and fabulous location close to all Davis has to offer! 1,791 sq. ft., 3 bedrooms, 2.5 baths. Built in 2003.
joesellsdavis@gmail.com Cal DRE# 01230760
May your holidays be full of joy and peace!
Dana Hawkins Global Luxury Specialist, Realtor® | CalDRE #01318897
Dana.Hawkins@cbnorcal.com www.danahawkinsrealestate.com
530.219.5076
JOE KAPLAN Associate Broker 530.304.5978
The Davis Enterprise, Friday, December 17, 2021
Bringing Buyers & Sellers Together Since 1997
LiveinDavis.com
Happy Holidays
Creating Real Estate Success for Over 20 Years. Davis Resident Since 1974.
from the entire staff of The Davis Enterprise
315 G Street ★ Davis, CA 95616
530.756.0800 ★ www.DavisEnterprise.com
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THE REAL ESTATE REVIEW
The Davis Enterprise, Friday, December 17, 2021
Happy Holidays! Thank you for another amazing year as Davis’ #1 agent with 37 closed listings and 20 buyer-represented sales! If you’re thinking about selling in 2022, let’s get together and talk strategy as soon as possible! Market changes are coming!
KIM’S 2021 SOLDS
823 Peregrine Avenue $1,617,428
39678 Lupine Court $1,400,000
602 Georgetown Place $1,340,000
20 Parkside Drive $1,320,000
983 Pierce Lane $1,317,000
39614 Primrose Place $1,293,300
5414 Tufts Drive $1,270,000
2812 Corona Drive $1,250,000
3802 Gaviota Place $1,217,000
1518 Willow Lane $1,200,000
426 Sandpiper Avenue $1,156,500
1040 Pierce Lane $1,125,000
659 Equador Place $1,077,000
3409 Morro Bay Avenue $1,050,000
539-541 J Street $1,030,000
808 Villanova Drive $1,022,000
626 B Street $1,000,000
708 Robin Place $995,000
914 Plum Lane $975,000
1256 Antelope Avenue $960,000
1950 Alicante Street $950,000
726 Falcon Avenue $925,000
2316 Rodin Place $901,000
1676 Harvest Drive $899,995
918 Colby Drive $899,000
1508 Eligio Lane $890,000
2129 Pollock Court $862,000
1000 Plum Lane $860,000
1608 Clemson Drive $799,000
879 Linden Lane $778,602
637 Rutgers Drive $775,000
801 Anderson Road $770,000
558 Villanova Drive $749,000
1515 Union Drive $741,000
3621 Koso Street $730,000
3230 Albany Terrace $729,900
3506 Monte Vista Avenue $726,000
1327 Via Colonna Terrace $675,000
2333 Roualt Street $673,100
2403 Whittier Drive $670,000
1206 Farragut Circle $655,000
2102 Whittier Drive $650,000
834 Atwell Circle, Woodland $650,000
1506 Manzanita Lane $646,500
937 Chestnut Lane $640,000
2306 Temple Drive $630,000
2618 Temple Drive $615,000
426 K Street $599,000
2679 Briscoe Court, Woodland $570,000
9604 Glacier Creek Way, Elk Grove $554,550
628 Poplar Drive, Woodland $540,000
910 L Street $547,000
713 K Street $533,625
4102 Cowell Boulevard $522,000
2105 E. 8th Street $499,000
3317 Monterey Avenue $499,000
834 Walker Street, Woodland $499,000
3031 Oyster Bay Avenue $480,000
4162 Cowell Boulevard $465,000
1638 Allen Circle, Woodland $425,000
609 Court Street, Woodland $420,000
1311 Drake Drive Unit C $395,000
1839 Fremont Court #2 $355,000
133 Elliott Street, Woodland $345,000
530.304.4947
kimeichorn.com keichorn@golyon.com CA DRE# 01196250