Why is Davis CA Real Estate so expensive?

Frustrated buyers often ask why Davis is so expensive.

First off, how expensive is Davis real estate?  The average sales price in July, 2007 was $653,000.  Neighboring Woodland had an average sales price of $385,000 and Dixon’s average sales price was $432,000.

Here are five reasons why it is so expensive to buy a house in Davis:

1. Very little growth.  The citizens of Davis passed Measure J in 2000, requiring any new development be approved by a majority vote by a city-wide ballot measure.  This has meant that there is very little competition between resale homes and custom homes.

2. The city is home to the University of California at Davis.  This is a college town with a world class research university.  The university is a large employer in addition to drawing thousands of students who are kicked out of the dorms at the end of their freshman year.

3. The Davis public school system.  The schools in Davis consistently rank very well in standardized tests and students graduating from Davis end up attending prestigious public and private universities throughout the country.

4. Davis is often called the bike capital of the world.  This positively affects the value of homes because of the miles of bike and walking paths and the abundance of parks.

5. A great sense of community.  Davis has a population of nearly 65,000, however it has a vibrant downtown with many shops, restaurants and one of the premier Farmers markets in the country.

People are buying a lifestyle when they buy a home in Davis.  Davis is a great place to live and there are many people who want to live the Davis “experience”.  Prices here are only down slightly from last year, the number of sales remains steady and inventory is actually lower than what it was the same time period last year.

Davis real estate is expensive because people want to live here.  Start your search for Davis Real Estate here or search the MLS for Davis Homes.

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