The inventory levels of active listings for single family detached homes in Danville continues it’s downward trend.
The current inventory absorption rate for Danville is at 1.3 months which is down from my post on Danville Real Estate just two weeks ago. We are also seeing the surrounding areas of Alamo and San Ramon have declining inventory. The holiday season traditionally has seen smaller inventory levels however, this downward trend began a year ago. The more relavent reasons for the decline in inventory are the fact that there are far fewer bank owned and short sale homes on the market and because many home sellers have decided not to sell their home due to the decline in value over the last several years. Many of these would be sellers have instead decided to stay and remodel.
Current Danville Statistics:
There are 117 active listings for single family detached homes in Danville. The average list price for these active properties is $1,288,604 with the highest priced home listed at $3,994,000 and the lowest priced listed at $466,900. The average price per square foot is $427 and the average days on market is 106. There are 90 pending sales in Danville with an average list price of $931,497. The highest priced pending sale was listed at $2,150,000 and the lowest was priced at $529,000. The average price per square foot for these pending sales is $333 and the average days on market is 66 days. There were 27 closed sales during the month of November with the average sales price being at $1,013,638. The highest priced sale was at $3,940,000 and the lowest at $573,000. The average price per square foot for these sales is $387 and the average days on market was 59 days.
