The Westside Danville Real Estate market has definately picked up over the last few months.
With sales outpacing new listings, the available inventory in the Westside Danville area has dropped to a very low 2.4 months. This is in comparison to the 20 months + inventory levels we were seeing just 1 year ago. While prices have come down it is encouraging to see homes selling in this area. There are many reasons for the increases in sales but one of the primary reasons is that there has been pent up demand over the last few years with many buyers just looking for a signal that the time is right. With some increases in consumer confidence, and being in the prime buying season, we should see sales remain stable over the next several months.
There are 22 active listings in the Westside of Danville. The average price for the active listings is $1,434,438 with the highest priced active listing at $3,900,000 and the loiwest at $629,000. The average price per square foot for these active listings is $455 with the high at $684.21 and the low at $306.25. The average days on market is 110 days with a high of 326 and a low of 6. There are 9 pending sales in the Westside of Danville. The average list price for these sales is $1,379,544 with a high of $3,299,000 and a low of $595,950. The average price per square foot is $545 with a high of $1,656.25 and a low of $208.33. The average days on market is 65 with a high of 215 and a low of 2 days.
The Danville Market is still very stable and sales look strong.
Based on what we are seeing and experiencing, the Danville Real Estate market continues to improve and sales are more than keeping up with new listings. In fact the amount of available inventory is now down to 2 months. This statistic does not include the areas of Blackhawk but does include Westside Danville, Greenbrook, and Sycamore. The wildcard here is with the inventory of bank owned homes still with the banks. It is unclear what the banks will do in the future but as of now, in spite of the lower prices, the market seems strong.
Current Danville statistics are as follows:
There are 192 active listings in Danville with an average list price of $1,292,858. The highest price listing is at $4,500,000 and the lowest is priced at $539,900. The average price per square foot is at $412 with the high at $2,002.40 and the low at $230.21. The average days on market is at 100 days with a high of 426 and a low of 3. There are 93 pending listings in Danville. The average price for these pending listings is $996,331 with a high of $3,299,000 and a low of $399,950. The average price per square foot is at $361 with a high of $1,656.25 and a low of $204.86. The average days on market is 72 with a long of 288 and a short of 0.
Analysis:
Based on the statistics we see that many of the active listings are priced a bit high. The buyers currently making offers are not “Low Balling” like we saw last year but are studying the comparable sales quite closely. Also, with the new regulations and rules on appraisals it has become increasingly difficult to have appraisals come in where they should be. The rule of the day is if you wantto sell your home, you really need to study the most recent sales and price accordingly.
Wow, the home sales in Danville keep accelerating into the summer.
The inventory absorption rate in Danville for detached single family homes is now at 2 months. This is for the town of Danville only and does not inlcude Blackhawk. Homes in all price ranges seam to be selling with most of the sales happening in the $500-$900K price range. As an example, we took over a listing that had been on the market for 7 months. We listed the home at $1,399,000 and it sold in 2 weeks with multiple offers. I still hear some real estate professionals claiming that the market is continuing in a downward spiral, and in some areas this may be the case, but in the San Ramon value we are seeing just the opposite.
There are 193 active listings of single family homes in Danville. The average list price of these homes is at $1,255,903 with the highest price listing at $4,500,000 and the lowest priced at $559,000. The average price per square foot is at $407 with a high of $2002.46 and a low at $235.26. The average days on market is 95 days. There are 94 pending listings. The average list price for these pending listings is at $1,001,623 with the highest priced at $3,299,000 and the lowest priced at $399,950. The average price per square foot is at $362 with the highest at $1656.25 and the lowest at $210.24. The average days on market is 72 days.
The Danville Real Estate market continues to stay hot moving into the summer months.
The upturn in the Danville market seems to be happening sooner than the expected season upswing during the summer months. While total homes on the market has been increasing, the number of pending sales have outpaced new listings. The inventory absorption rate (number of months of inventory currently active) has been steadily dropping and is now at 2.34 months. This is indicative of a normal market. Prices have stabilized and consumer confidence seems to be up. As long as interest rates remain low and confidence stays at current or hgher levels, we should see the market continue to pick up through the summer months.
The current active and pending for Danville is as follows:
There are 199 active listings in Danville. The average list price for these homes is $1,263,901 with a high of $4,500,000 and a low of $549,000. The average price per square foot is at $413 and the average days on market is 94 days. The longest active listing has been on the market for 420 days and the shortest at 2 days. There are currently 85 pending sales in Danville. The average list price for these pending sales is at $1,011,065 with the highest priced pending at $3,299,000 and the lowest at $399,950. The average price per square foot for these pending sales is $350 with a high of $736.38 and a low of $204.86. The average days on market for these homes is 70 days with a long of 288 and a short of 0.
The real estate market in Westside Danville has improved dramatically and is now keeping pace with the Town of Danville as a whole.
Over the last two years home sales in Westside Danville have been stagnate and have significantly lagged those of the Town of Danville. Traditionally the homes in Westside Danville have been coveted by people wanting to move into the east bay area. This is do to their unique nature, proximity to the charming downtown area of Danville and easy freeway access. Over the past two years the desireability of this unique area has wained as a result of the slowdown in the econimy and due to the thrift nature of today’s buyers. Over the past month we have seen a renewed interest in this area, as well as the the area of Westside Alamo. The current inventor level in the Westside is at 2.86 months which is considerably lower than the 20+ months we were experiencing earlier this year.
Current statistics for Westside Danville are as follows:
There are 20 active listings on the westside with an average list price of $1,562,682. The highest priced listing is at $3,900,000 and the lowest at $674,950. The average price per square foot is at $536 with the high at $1656.25 and the low at $332.35. The average days on market is 113 with a high of 306 and a low of 2. There are also 7 pending sales. The pending sales had an average list price of $1,729,142 with a high of $3,299,000 and a low of $899,000. The average days on market for these pending sales is 81 with a long of 215 and a short of 2.
The real estate market in Danville continues to sizzle as we enter into the prime selling season
These days it is not uncommon to see multiple offers on homes. Many homes are now being sold within the first week of two. Prices seem to be stabilizing and the amount of available inventory has dropped to 2.37 months. This is a continuing and consistent downtrend in inventory levels and is primarily responsible for the stabilizing home values. We have also seen this trend withing the smaller submarkets in Danville such as Greenbrook, Sycamore, Westside Danville, and Westside Alamo.
Current Danville statistics are as follows:
There are 202 active listings within the Danville market. The average list price for these active listings is $1,255,947 with a high of $4,500,000 and a low of $499,900 the average price per square foot for these listings is $412 and the average days on market is 96 with a high of 413 and a low of 0. In addition there are 85 pending sales. The average list price for these pending sales is $1,034,913 with a high of $3,299,000 and a low of $399,950. The average listing price per square foot is $354 with a high of $736.38 and a low of $208.33.
We expect new listings to increase over the next few months while sales to increase at roughly the same level. The inventory absorption rate should hover between 2-3 months which is indicative of a balanced market and as such should keep prices fairly flat. There is some expectation that interest rates will raise in the near future so those wishing to lock in a low rate are encouraged to quickly regarding a home purchase. Many economists are predicting that there is not and will not be a better time to buy a home than now.
Homes sales in Danville continue to be strong.
In light of the recent increase in consumer confidence reported by many economists and media professionals I am happy to report that the Danville real estate market continues to show its’s strength. The current inventory level is at 2.55 months which is flirting with being a sellers market. Homes in all price ranges are selling quickly and with multiple offers. However, there are many homes that continue to sit. We find that the homes not moving either are in an undesireable location, or are priced above where people are willing to spend. Some of the strong areas are Greenbrook, Sycamore, and even Westside Danville. The Westside Alamo market is also holding it’s own.
The current statistics for Danville Real Estate are as follows:
There are 199 active listings in Danville with an average sales price of $1,268,268. The highest price listing is at $4,500,000 with the lowest priced at $559,900. The average price per square foot is at $411 with the highest at $2,243.59 and the lowest at $202.38. The average days on market is 94 with the longest at 419 and the shortest at 0. There are 78 pending sales within the Danville real estate market. The average list price is at $1,041,086 with the highest priced at $3,299,000 and the lowest at $399,950. The average price per square foot is at $355 with the high at $736.38 and the lowest at $208.33.
