Let’s talk about what is actually happening in the Yolo County real estate market right now. Prices are up, but homes are taking longer to sell. That is the short version. Here are the details.
Prices Are Up
In June, the median sale price across Yolo County hit around $702,000. That is about a 10 percent jump compared to the same time last year. Price per square foot is also higher, up about six percent.
Some sites like Zillow show a softer number, around $622,000, but that includes a wider range of property types. If we are just looking at residential resale, prices are definitely stronger than they were last year.
Homes Are Sitting Longer
Last year, homes were flying off the market in under two weeks. Now the average is closer to 27 days. Some areas are even slower. In July, the average listing age reached 109 days. That is a sign the frenzy has cooled. Buyers have more time. Sellers need to be realistic.
Inventory and Buyer Activity
We had around 66 homes listed for sale at the start of July. Only about 10 went into escrow or closed that month. Of those, most sold under asking price. About 30 percent went for more than list price. That tells me buyers are being selective and sellers need to price right from the start.
Spotlight on Davis
Davis is always one of the higher priced markets in the county. Right now the average value is just under $875,000. That is slightly down from last year. But sales data from July shows a median closing price around $807,500. The average time on market in Davis is 46 days. That is twice as long as last summer.
What Buyers Need to Know
You are still going to pay more than you did last year, but the pace is slower and there is more room to negotiate. Be prepared and take your time. The right property will come if you are ready to act when it does.
What Sellers Need to Know
The market is still solid, but not as fast. If you want to sell, price it right and get it looking sharp. Expect longer days on market and fewer multiple offer situations. The buyers who are out there are serious, but they are not desperate.
Rental Market Note
If you are an investor, average rent in Yolo County is holding strong around $2,475 a month. That is a small increase from last year. Demand is still solid, but be aware that operating costs are going up too. You will want to keep a close eye on those numbers.
Bottom Line
The Yolo County market is shifting. Prices are still strong, but momentum is slowing. Buyers have more leverage. Sellers need to be sharp. If you are thinking about buying, selling, or investing, this is a good time to have a strategy.