The Danville Real Estate market is still cooking with low inventory and high sales. Then why are some homes sitting with no activity?
As of the 21 of December we already have 21 closed sales in Danville. This coupled with an inventory absorption rate of 1.35 months demonstrates that there is a Sellers Market in Danville. But a closer look at the statistics will point to a clear disconnect between the homes that are selling and those that are not. The average price per square foot for the 107 active listings in Danville is at $421 with an average days on market of 111 days. If you take a look at the 79 pending sales the average price per square foot is at $326. That is a significant difference in perceived value per square foot. With the 21 homes that have sold this month so fay we see an average price per square foot of $333. Again, while it is a sellers market in terms of inventory absorption rate, we are seeing the buyers clearly looking for value in price per square foot.
Current Danville Statistics:
The average list price for the 107 active listings is at $1,233,582 with the highest priced listing at $3,598,000 and the lowest at $520,000. The average price per square foot is $421 and the average days on market of 111. The average list price for the 79 pending sales is at $935,958 with the highest priced listing at $1,599,950 and the lowest at $449,000. The average price per square foot is at $326 with the average days on market of 58 days. The average sold price for the 1 sales this month is at $862,220. The highest priced sale sold for $1,820,000 and the lowest at $580,000. The average price per square foot was at $333 and the average days on market at 81 days.
