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.
