Inventory and Sales Prices Declining for Bay Area Home in the East Bay Town of Danville
In the following graph we see an interesting phenomena taking place for Bay Area Real Estate in the East Bay town of Danville. In normal times when we see inventory levels drop we also normally see prices increase and if we see inventory increasing we regularly see prices decrease. The current trend in the town of Danville is decreasing inventory and decreasing prices. There are several variables that have an effect on this graph which include the seasonality of real estate in this area where most sales take place in the summer months, the budget and policy standoff in congress and the confusion over foreclosures and distressed properties. Because we are “In the Trenches” every day with both buyers and sellers I believe that we are also seeing apathy, or a more highly selective buying public. While there are many homes selling I see buyers becoming much more selective and moving more and more to only buying a “TurnKey” home and only if it’s a deal. The sellers who don’t need to sell are opting to keep their home off of the market so that we see inventory dropping. What we have left is truly motivated sellers who are more willing to negotiate on the sales price of their home.
IN this blog you will see a graph depicting the trends for median sales price and inventory levels in the East Bay Area Town of Danville. What this shows is a downward trend over the last 2 months. However there is a recent spike in the first week of September.
