There has been a slight drop in active inventory of detached single family homes in Danville from my post last week.
Just one week ago the number of active homes on the market in Danville was at 117 with an inventory absorption rate of 1.3 months. We now see active inventory at 115 homes and an inventory absorption rate of 1.4 months. We have also seen a similar situation in San Ramon where inventory has declined and the absorption rate has increased. This most likely has to do with the seasonality of the real estate market. Having said that, I do believe that there are more people wanting to buy Danville Real Estate now than the same time last year. There are good turnouts at open houses and many inquiries regarding specific homes. A couple of the reasons why there are so many people wanting to buy is prices have come down quite a bit, Interest Rates are exceptional and the government extended theFirst Time Home Buyer Tax Credit. At the higher price points we are seeing buyers make several visits before buying. At the lower price points we are seeing lack of inventory which has caused some people to get a bit discouraged.
Current Danville Real Estate Statistics:
There are 115 active single family detached homes on the market in Danville. The average list price for these homes is at $1,259,866 with the highest priced home listed at $3,975,000 and the lowest listed at $466,000. The average price per square foot is at $423, and the average days on market is 103 days. There are 82 Pending sales with an average list price of $937,044. The highest priced pending sale was listed at $2,150,000 and the lowest at $545,000. The average price per square foot for these pending sales is $333 and the average days on market is at 64.
