The real estate market in Danville is heating up
The available inventory, or absorption rate, is currently down to 3 months. While more houses are coming on the market, we are seeing sales increase as well. There are currently 192 active listings in the Danville real estate market and 64 pending sales. The homes that are selling the fastest are in the price range of $400K-$900K. This has a lot to do with interest rates for conforming loans and a higher level of confidence from buyers. The areas who are benefitting the most are Greenbrook and Sycamore. The areas of Westside Danville and Westside Alamo have not started to rebound yet.
Current market statistics
The average list price for the 192 active Danville listings is $1,362,823 with the highest priced listing at $5,300,000 and the lowest at $499,000. The average price per square foot is $428 with the high at $2243.59 and the low at $235.59. The average days on market is 93 days with the longest at 378 and the shortest at 1 day. The average list price for the 64 pending sales is at $937,291 with the high at $3,998,000 and the low at $399,950. The average price per square foot is at $333 with the high at $508.98 and the low at $202.38. The average days on market is 71 days with a high of 364 and a low of 1.
