The Danville Real estate market is still active with low inventory and stable prices.
We have seen the inventory levels in Danville drop of the last year. However, over the last month the levels have stabilized while sales have continued to increase. What this has caused is a situation where the inventory absorption rate is at a flat 1 month. And while we are seeing many homes sell in less than a week with multiple offers there are still some that have been sitting for months. A closer look at the statistics will show a drastic difference in price per square foot for Active homes compared to Pending and Sold. We have seen more short sale listings come on the market but foreclosures have all but gone away. The bottom line here is that homes are selling well but the buyers are not overpaying and are still looking for value.
Current Danville Real Estate Statistics:
There are currently 113 active listings for single family detached homes in Danville. The average list price for these homes is at 1,244,275 with the highest priced listing at $3,995,000 and the lowest at $520,000. The average price per square foot for these homes is $415 and the average days on market is 69 days. There are 112 Pending sales in Danville with an average list price of $928,816. The highest priced pending sale was listed at $3,498,000 and the lowest at $466,900. The average price per square foot is $340 and the average days on market is 56 days. Since February 1 there have been 25 closed sales. The average sales price for these homes is $841,490 with the highest priced sale at $1,450,000 and the lowest at $450,000. The average price per square foot for these sales was at $319 and the average days on market of 32 days.
