With an inventory absorption rate of 1.5 months, the Danville Real Estate Market continues to demonstrate brisk sales at the lower price points
As we have reported over the last few months, the Danville market become somewhat of a Seller’s Market at price points below $800,ooo. With the homes priced between $900K-$1.3 Million sitting for a while. Ironically we are seeing homes priced over $1.3 Million selling at a faster pace than those at the $1-1.3 Million dollar range. I have blogged about this situations in the past and it is my contention that this in between (Tweener) home is caught between total fixers and highly upgraded showplaces. In contrast we are seeing homes in nearby San Ramon sell very fast and in fact theinventory absorption rate in this area is less than 2 weeks. On the other side of the spectrum we are seeing the homes in Alamo sit longer and in fact the inventory absorption rate is hovering around 3.5 months.
Current Danville Statistics:
In Danville there are currently 128 active listings for single family detached homes. The average price for these active listings is $1,265,343 with the highest at $3,994,000 and the lowest at $466,900. The average price per square foot is at $421 and the average days on market is at 98 days. There are 82 pending Sales in Danville with an average list price of $947,382. The highest priced Pending listing was listed at $2,150,000 and the lowest at $499,000. The average price per square foot for these pending Danville sales is $344 and the average days on market is at 75 days.
