The Danville real estate market is still segmented into 3 distinct groups. Those being homes under $1,000,000; home priced between $1,000,000 and $1,200,000; and those over $1,200,000.
The month end statistics for sales of single family detached homes in Danville demonstrate the segmented market by the fact that 21 of the 29 homes sold were priced under $1,000,000. In fact 20 were priced under $900,000. I feel that the reason for this segmented market is that many of the active buyers looking in Danville are not interested in older homes that might need a significant amount of work. So, they are looking for either something that need a major overhaul at a lower price, or something that is completely remodeled at a higher price. This has created a mid section of the market where the homes are older and while some look really nice, they may not have the open floorplan that most current buyers are looking for. This is in contrast to the Red-Hot San Ramon market where people are able to buy a large newer home with all of the amenities and upgrades at a much lower price per square foot.
The current Danville Statistics:
The currently are 124 active listings for single family detached homes in Danville. The average list price for these homes is $1,272,156 with the highest priced listing at $3,994,000 and the lowest priced at $499,950. The average price per square foot is $424 and the average days on market is 103 days. There are 94 pending sales of detached single family homes in Danville with an average list price of $970,646. The highest priced pending sale is at $4,480,000 and the lowest priced at $399,950. The average price per square foot for these pending sales is $352 and the average days on market is 63. During the month of October there were 29 closed sales of single family detached homes in Danville with an average sales price of $879,849. The average list price was $919,121. The average “Sold” price per square foot was $335 and the average days on market was 60 days. The current Inventory Absorption Rate is at 1.31 months
