The Westside Danville real estate market has seen the inventory absorption rate drop to 6 month over the last week.
This is due to fewer active listings and new pending sales in the area. The market activity in terms of showings and open house activity also is increasing with many buyers now making the decision to buy. In part this is due to the low interest rates, desirability of the westside area, and large pent up demand. We are finding that many buyers have been studying the selling and price trends in the area and are now seeing value coupled with more confidence in the economy. This lower absorption rate is more in line with what we are seeing in Danville as a whole and the areas of Greenbrook and Sycamore
Market statistics:
The average list price for the active listings is at $1,620,394. The highest price westside listing is at $3,695,950 with the lowest at $599,000. The average price per square foot is at $482 with the highest at $608.29 and the lowest at $301.61. The average days on market is at 128 with the highest at 300 and the lowest at 5. The prices for the 3 pending listings are $799,000, $915,000, and $1,195,000. The prices per square foot are $560.31, $331.16, and $543.18. The days on market are 6, 65, and 8.
