Reggie Spencer finished with 13 points and Walker added 11 to help Northeastern (18-10, 13-3) guarantee at least a share of its first-ever CAA regular season title.
After David Walker converted a jumper with 3 seconds left to make it 66-64, Davis missed a 3-pointer with 1 second left to seal Northeastern's victory.
Northeastern shot 50 percent (8 of 16) while holding James Madison to 41.4 percent (12 of 29) in the second half.
Davis led the Dukes (15-13, 9-6) with 21 points.
Devin Williams' decision last month to sign with an agent and enter the NBA draft has left West Virginia in a tough spot.
Florida State's student government has passed a resolution discouraging Seminoles fans from wearing Native American headdresses at games.
The second annual Gavitt Tipoff Games, eight games between members of the Big East and Big Ten to be played Nov. 14-18, will feature Villanova at Purdue in the opener.