The real estate market is Danville is continuing to pick up with inventory down and sales up
The Danville market has been very stabile during the economic downturn and has actually improved in terms of a reduced inventory absorption rate. The number of active listings have dropped to 163 and there are 25 pending listings. This gives us an inventory absorption rate of 6.52 months. By all accounts we expect active inventory to drop over the next month or two and sales are expected to be flat at about 25 a month. The smaller sub markets within Danville are seeing dramatic differences. The areas of Greenbrook and Sycamore are performing very close to Danville as a whole while the areas of Westside Danville and Westside Alamo 
are slower with a longer absorption rate. This will continue to push the absorption rate lower and remove downward pressure on prices.
Current statistics
The average price for the 163 active listings in Danville is at $1,352,966 with the highest price listing at $5,200,000 and the lowest at $585,000. The average price per square foot is at $415 with the highest at $1259.79 and the lowest at $235.26. The average days on market is at 108 with the longest at 643 and the shortest at 3. There are 25 pending listings with an average list price of $934,474 with the highest priced at $1,895,000 and the lowest at $465. The average price per square foot is $369 with the highest at $543.18 and the lowest at $217.82. The average days on market is at 87 with the highest at 274 and the lowest at 0.
