Why aren’t Some Danville Homes Selling During a Time of Low Inventory?
The Danville Real Estate market is still cooking with low inventory and high sales. Then why are some homes sitting with no activity?
As of the 21 of December we already have 21 closed sales in Danville. This coupled with an inventory absorption rate of 1.35 months demonstrates that there is a Sellers Market in Danville. But a closer look at the statistics will point to a clear disconnect between the homes that are selling and those that are not. The average price per square foot for the 107 active listings in Danville is at $421 with an average days on market of 111 days. If you take a look at the 79 pending sales the average price per square foot is at $326. That is a significant difference in perceived value per square foot.
It is good from time to time to analyze old data and compare it with the latest statistics for certain areas. This log from December 2009 speaks to the real estate market slow down in the Bay Area. Specifically it looks at the Danville Real Estate Market. This market is traditionally very strong and the area is highly desirable.
