The homes sales in Westside Danville have been fluxuating of late. The speculation is that this is being caused by a general concern over the current economic condition within the country and the relative difficulty obtaining financing.
The current snapshot for Westside Danville home sales is as follows: There are currently 25 active homes for sale in Westside Danville. The average list price for these active homes is $1,639,770 or $531 per square foot. The highest price active listing is on the market at a sales price of $4,500,000 or $818.18 per square foot. The lowest price listing is on the market at $685,000 or $378.04 per square foot. The averae days on market for these 25 homes is 73 days with the longest being at 223 and the shortest being at 5. There are also 5 pending home sales in Westside Danville. The list prices for these pending sales are $669,800, $899,000, $912,000, $1,000,000, and $1,150,000. The prices per square foot for these pending sales are $326.41, $457.97, $330.08, $465.77, and $350.18
Based on the absoprtion rate of 6 months, the Westside Danville maret is considered neutral. This is a bit misleading due to the relatively low number of active listings in this area. The inventory levels have been fluxuating between a high of 12 months and a low of 6 months just over the last 4 weeks as compared to Danville as a whole and the neighborhoods of Greenbrook and Sycamore which have been consistantly realizing an inventory level of between 4-7 months. The Westside Danville area has more closely resembeled the area of Westside Alamo in terms of inventory level and price errosion.
Home sales in Westside Alamo have slowed over the last several weeks in part due to buyers concern over the economy and the tightening of the mortgage market.
Active listings in Westside Alamo total 27 homes with an average sales price of $1,964,012. The average price per square foot for these active listings is $539. The highest price active listing is on the market for a sales price of $5,215,000 or $833.33 per square foot with the lowest price being at $699,950 or $393.67 per square foot. The average days on market for these active homes is 125 days with the longest being at 571 days and the shortest being at 13 days. There are currently 5 pending home sales in Westside Alamo. The list prices for these pending homes are $595,000, $815,000, $869,000, $1,000,000, and $1,299,950 with the price per square foot being at $419.61, $413.92, $569.46, $347.71, and $498.26.
Home sales market analysis
Based on an inventory absorption rate of 6 months the Westside Alamo real estate activity is considered neutral. Much like Danville and the smaller neighborhoods of Sycamore and Greenbrook, the Westside Alamo homes sales seem to be keeping pace with the surrounding area and doing better than the Westside Danville 
area. However, due to the small number of homes in this sample it is not statistically significant. For example, the absoprtion rate last week was at 8 weeks and the absorption rate 3 weeks ago was at 12 weeks. Thes broad swings are as a result of a relatively small pool of active listings.
The Danville real estate market is still doing well with home sales performing at a neutral level
The current activity in the Danville market for home sales is as follows: There are 199 active listings within Danville. These active listings have an average list price of $1,413,039 which is $435 per square foot. The highest price listing is at $5,400,000 or $770 per square foot. The lowest price listing is at $599,000 or $371.59 per square foot. The average days on market for these active listings is 91 days with the longest being at 406 and the shortest being at 1 day. There are also 38 Pending sales in the Danville real estate market. The average price for these pending sales is at $1,036,074 or $366 per square foot. The pending sale with the ighest list price is at $2,395,000 or $468.96 per square foot. The lowest priced pending sale is at $599,000 or $488.98 per square foot. The average days on market for these pending sales is at 53 with the longest being at 224 and the shortest at 1.
The real estate market in Danville is considered neutral.
With an inventory absorption rate of 6 months 
the Danville home sales market is neither considered a buyers or sellers market and in fact is a neutral market. There are some areas that are a little slower than others (i.e. Westside Danville, Westside Alamo) but in general areas like Greenbrook and Sycamore are keeping pace with Danville as a whole.
The diverse Westside Danville Real Estate market is still a desirable place to live.
Home buyers have may homes of different types to choose from. The currently activity shows that there are 26 active listings with an average list price $1,615,163 or $529 per square foot. The highest price westside Danville home currently listed as active is priced at $4,500,000 or $818.18 per square foot. The lowest price active listing is priced at $685,000 or $378.04 per square foot. The average days on market for these 26 listings is 66 days with the longest being at 219 and the shortest at 1. There are also 4 pending listings. The pending home sales are priced at $669,800, $899,000, $912,000, $1,150,000. The prices per square foot for these homes are $326.41, $457.97, $330.08, and $350.18. The days on market for these homes are 7, 8, 3, and 125. The currently activity points to an inventory absorption rate of 7 months. A 7 month absorption is considered a buyers market.
The Westside Danville is one of the underperforming areas within the entire Danville real estate market. While homes are selling the inventory absorption rate more closely resembles Westside Alamo. The areas of Greenbrook and Sycamore are closer to Danville as a whole and tend to tunr over inventory a litle quicker than the Westside Danville real estate maket.
The home sales market in Westside Alamo continues to hold it’s own
Current real estate activity in Westside Alamo shows that there are 30 active homes for sale. These active listings have an average sales price of $1,856,611 or $535 per square foot. The highest price home currently on the market in Westside Alamo is listed at $5,215,000 or $833.33 per square foot. The lowest price home on the market is listed at $595,000 or $419.61per square foot. The average days on market is 116 with the longest on market being at 567 and the shortest being at 9 days. In addition there are 4 pending listings. The pending homes had an active list prices of $815,000, $869,000, $1,000,000, and $1,299,950. The prices per square foot for these pending homes are $413.92, $569.46, $347.71, and $498. 26. The days on market for these homes are 35, 109, 124, and 32 respectively. In general the current activity demonstrates an inventory absoprtion rate of 8 months. An 8 month absorption rate is considered a buyers market.
Some area differences
Compared to Danville, the Westside Alamo area home sales are slower. In fact over the last few weeks we have seen the inventory absorption rate shift from an average of 5-6 months to the 8 month level we are currently seeing. Also, areas such as Westside Danville, Sycamore, and Greenbrook
have stayed consistently at 4-6 months with Westside Danville actually improving over the last 2-3 weeks.
The residential Real estate sales in Danville are as follows
The active listings in Danville as of this morning total 194. The average price for these listed homes is $1,417,888 or $436 per square foot. The highest price active home for sale is at $5,400,000 or $770 per square foot. The lowest price active listing is on the market at $599,000 or $371.59 per square foot. The average days on market is 86 days with the longest being at 345 and the shortest being at 1 day. There are 40 pending listings with the average price being at $1,033,574 or $364 per square foot. The highest price pending is at $2,395,000 or $468.96 per square foot. The lowestr price pending is at $599,000 or $488.98 per square foot. The average days on market for these pending homes is 60 days. Based on the currently activity the inventory absorption rate is at 5 months. This is a very stabile number and indicates a nuetral market.
Patience is a virtue
Based on the inventory absorption rates for Danville Real Estate you can estimate that it will take 5 months to sell a home. We find this to be consistent in most areas of Danville. The areas of Greenbrook, Sycamore, and Westside Danville 
are still desireable places to live and there are buyers for these homes. We have found the sellers to be fairly patient but as the news continues to report doom and gloom some of these sellers are getting worried that prices are on the way down. In fact many buyers are waiting with the expectation that the sellers will start significantly lowing their asking price.
The residential real estate market within Westside Danville has been affected by the overall downturn in the economy
What we are finding though is that it is not as a direct result of foreclosures and short sales but more of an overall nervousness in the market and the fear of overpaying for a home. Many buyers are still interested in owning a home close to downtown and within walking distance to great restaurants and schools but look at the price per square foot and are making a value decision to look for more house. The price per square foot for homes in Danville is the highest, in general, within the Westside. You can find comparable homes in Greenbrook and Sycamore for less money. we are even seeing some buyers opt for large 4000+ square foot homes in the Dougherty Valley of San Ramon over homes in the Westside of Danville.
Current Westside Danville Real estate activity
There are 23 active listings within the Westside of Danville. The average price for these listings is $1,546,380 with an average price per square foot of $524. The highest price active listing is at $4,500,000 or $818.18 per square foot. The lowest price active listing in the Westside of Danville is at $685,000 or $378.04 per square foot. The average days on market for these listings is 78 with the longest being at 216 days and the shortest at 6. There are also 5 pending listings which are priced at $669,800, $899,00, $912,000, $1,150,000, and $1,495,000. The price per square foot for these homes is $326.41, $457.97, $330.08, $350.18, and 
$396.03 respectively.
It never ceases to amaze me when, in spite of the national economic woes, the Westside Alamo market is still doing well
The desirabilty of the area the outstanding schools and abundance of programs for children and adults have made the Westside Alamo real estate market very robust. We also find that people like the proximity to all that the central valley has to offer. In particular the close proximity to the Napa Valley, San Francisco, and Monterey Peninsula while being close to Silicon Valley keeps the Westside Alamo area in high demand.
The current real estate activity is as follows
There are currently 30 active listings in the Westside of Alamo. The average price for these listings is $1,996,274 with an average price per square foot of $568. The highest price Westside Alamo home is priced at $8,498,000 or $2,023 per square foot. The lowest price listing is at $595,000 or $419.61 per square foot. The average days on market for these homes is 113 days with the longest being 564 and the shortest being 6 days. There are currently 4 pending homes in Westside Alamo. The homes were listed at $815,000, $869,000, $1,000,000, and $1,299,950. The price per square foot for these homes is $413.92, $569.46, $347.71, and 498.26 respectively.
Unlike Danville which has an inventory absorption rate of 5 months, Westside alamo’s inventory absoprtion rate is currently at 7.5 months which is a moderate buyers market. This rate has climbed over the last several weeks mainly as a result of the difficult time buyers are now having getting loans. We feel that this is a short term situation and in fact money seems to be flowing a little more freely now that last week.
The real estate market in Danville has been effected by the current economic downturn
Relative to the national average the residential real estate market in Danville has faired pretty well over the last year with home prices dropping a moddest 6%. The most recent concern has come by virtue of the mortgage markets where buyers are having a more difficult time securing loans. We have had people in escrow on homes in Westside Alamo and Westside Danville who are very qualified buyers and still have had to extend loan contingencies due to a tightening in underwriting requirements from lenders.
I find that there are still many buyers looking for Danville homes
The overwhelming reason for people looking to buy in Danville has been the quality of education within the San Ramon Valley. Additionally people talk about the overall quality of life in Danville and point to the strong programs for children including access to open space and nationally recognized sports teams.
Current Danville real estate activity
There are 193 active listings in Danville. The average price for the active listings is $1,383,000 and an average price per square foot of $429. The highest price listing is at $5,400,000 or $770 per square foot and the lowest price home is at $599,000 or $371.59 per square foot. The average days on market for these active listings is 90 days with the longest being at 560 and the shortest at 4. In addition there are 41 pending sales. The average price for these pending sales is $1,087,075 or $376 per square foot. The highest price pending Danville listing is at $2,395,000 or $469 per square foot and the lowest price pending being at $599,000 or $489 per square foot. The average days on market for these pending listings is 60 days with the longest being at 202 and the shortest at 1.
Home sales in Westside Danville have slowed of late.
We are finding that homes priced between $1,000,000 and $1,300,000 seem to be sitting on the market. This is an unfortunate situation for homes on the Westside because this have typically been the price point for homes in this area. I believe that this is a situation caused by several factors, those being: Buyer anxiety, perceived value, time of year, current lending restrictions. The buyer anxiety is a result of the current economic situation and the fact that buyers looking at homes in this price point are either move up or move down buyers. The move up buyers are those who are looking to improve the location of their homes and will stretch themselves financially to do so. The current market conditions have made it more difficult for these buyers to obtain financing in addition to the concern that they may be stretching into a home with a shrinking value. Many of these types of buyers have decided to change their search from Westside Danville to the other Danville neighborhoods of Greenbrook and Sycamore 
where you fairly close to downtown but can get a comparable home for less money.
Move down buyers are looking for value and a move in condition
Many of the buyers I speak with who are looking for homes on the Westside of Danville have much more selective eye and want to buy a “Turn Key” home. Many of the Westside Danville homes are 60 years old and need some updating. The comment I hear is that the location is great but ” For this amount of money the home should not need to be updated”. These buyers will wait to see what happens with the market before jumping in.
