The real estate market within the Westside of Danville continues to fluxuate wildy in terms of homes selling per week and month.
During the month of November there were 3 closed sales. The prices for these closed homes were $669,800, $950,000, and $1,100,000. The prices per square foot for these sold listings are $326.41, $442.48, and $334.96 with the day on market being 7, 1, and 125. There are currently 22 active listings in this market. The average price for these listings is $1,635,056 or $505 per square foot. The highest price active listing is price at $4,500,000 and the lowest price listing is priced at $675,000. The highest price per square foot is at $818.18 with the lowest price per square foot at $331.16. The average days on market for these active listings is 100 days with the longest being at 257 and the shortest at 26 days. There is 1 pending sale in Westside Danville. This pending sale had a list price of $1,398,000 or $587.39 per square foot. This home was on the active market for 15 days.
The inventory absorption rate for the Westside of Danville is currently at 22 months. This number changes drastically evry month and has fluxuated between 5 months and 22 months all year. Currently we are finding homes priced between $1,000,000 and $1,300,000 sitting for a much longer period of time. Comments from perspective buyers indicate that homes in this price range are not upgraded enough for some and ironically are not considered fixers either. This has caused many buyers to look at homes in both Greenbrook and Sycamore as alternatives to homes on the Westside. Buyers looking for higher priced homes have migrated towards Westside Alamo.
The Danville residential real estate market continues to hold it’s own and has proven to be extremely stabile and consistent over the last several months
There were 19 homes sold in November with an average sales price of $900,202 or $342 per square foot. The highest priced sold home closed at $1,345,000 or $325.82 per square foot. The lowest priced home closed at $669,800 or $326.41 per square foot. The average days on market for these sold homes was 55 days with the longest being at 221 and the shortest being at 1. At the beginning of December there are 191 active homes on the market in Danville. The average price for these homes is $1,374,050 or $426 per square foot. The highest price active listing is priced at $5,400,000 or $770 per square foot. The lowest price active listing is priced at $599,000 or $378.29 per square foot. The average days on market for these homes is 96 days with the longest on market at 383 and the shortest at 2 days. The average price per square foot is at $426 with the highest at $1,339 per square foot and the lowest at $217.82. There are 25 pending sales currently in the Danville Real Estate market. The average price for these 25 pending sales is $1,090,390 or $383 per square foot. The highest price pending was listed at $2,395,000 or $468.96 per square foot. The lowest price pending listing was priced at $465,000 or $289.54 per square foot. The highest price per square foot for these pending listings is at $587.39 and the lowest price per square foot is at $238.15. The average days on market for these pending homes is 66 days with the longest being at 374 days and the shortest at 0 days.
Analysis for the Danville Real Estate Market
With an inventory absoprtion rate of 7.65 months the Danville market has continued to perform at a very reliable and consistent clip. Unlike some of the sub markets like the Westside of Danville and the Westside of Alamo which have seen wild fluxuations in inventory, the Danville market and it’s other sub markets like Greenbrook and Sycamore
have proven to stand up to the economic pressures that have severely affected other communities in California and the country.
