WOW!!!! The Danville market seems to be on fire along with most areas of the East Bay.
There are currently 200 active listings in Danville for detached single family homes. While this number is consistent with past weeks and months, the number of pendings has jumped to 77. This results in an available inventory level of 2.59 months which is the lowest in quite awhile. There is some seasonality to the uptick but typically we see sales increase during the first few weeks of June and escalate through August. This market shift is occurring earlier than normal. There are many speculative reasons for this shift, and I have my thoughts as well, but an almost unanimous reason is the increase in consumer confidence along with the availability of some great loan products. Some areas of Danville are moving quicker than others. The areas of Greenbrook and Sycamore seem to be moving faster than the areas of Westside Danville and Westside Alamo
. The easiest reason to explain is that the Greenbrook and Sycamore areas have a lower price point for the same square footage. This price point falls within the conforming loan limits which offers the best rates. Additionally buyers are looking for value. And while there is a premium placed on the Westside locations many buyers are concerned about age of Westside homes and the money to will take to make the homes conform to their needs.
