Wow, the home sales in Danville keep accelerating into the summer.
The inventory absorption rate in Danville for detached single family homes is now at 2 months. This is for the town of Danville only and does not inlcude Blackhawk. Homes in all price ranges seam to be selling with most of the sales happening in the $500-$900K price range. As an example, we took over a listing that had been on the market for 7 months. We listed the home at $1,399,000 and it sold in 2 weeks with multiple offers. I still hear some real estate professionals claiming that the market is continuing in a downward spiral, and in some areas this may be the case, but in the San Ramon value we are seeing just the opposite.
There are 193 active listings of single family homes in Danville. The average list price of these homes is at $1,255,903 with the highest price listing at $4,500,000 and the lowest priced at $559,000. The average price per square foot is at $407 with a high of $2002.46 and a low at $235.26. The average days on market is 95 days. There are 94 pending listings. The average list price for these pending listings is at $1,001,623 with the highest priced at $3,299,000 and the lowest priced at $399,950. The average price per square foot is at $362 with the highest at $1656.25 and the lowest at $210.24. The average days on market is 72 days.
