The real estate market in Danville continues to be consistent in that the inventory absorption rate is now at 6.38 months.
The current absorption rate is down from the levels realized in late 2008 of 7-8 months. This in part is due to sellers opting to keep homes off of the market over the holidays and because many would be sellers are now waiting for signs that the Bay Area market has turned. There are some areas within Danville that have not seen the consistency of the entire market in terms of absortion rate. The Westside Danville and Westside Alamo markets have experiences wide swings in inventory while the areas of Sycamore and Greenbrook have performed more in line with the town as a whole.
Current activity in Danville
There are 166 active listings today of detached homes in Danville. The average list price for these homes is $1,364,101 with the highest price listing at $5,200,000 and the lowest at $585,000. The average price per square foot for these active listings is $419 with the highest being at $1,259.79 and the lowest at $251.29. The average days on market is 108 with the longest being at 418 and the shortest at 3 days. There are 26 pending sales in Danville. The average list price for these pending homes is $972,717 with the highest priced pending at $1,895,000 and the lowest priced at $465,000. The average price per square foot for these pending sales is $362 with the highest at $543 and the lowest at $217.82. The average days on market for these homes is 87 with the longest being at 374 and the shortest at 0.
