Blackhawk Real Estate

Blackhawk CA Homes for Sale | Blackhawk Market Update February 2017

Blackhawk CA Homes for Sale | Blackhawk Market Update February 2017

  • Lowest inventory in at least 15 years
  • Pending sales stay relatively strong
  • Price indicators mixed

There has not been this few homes actively listed in Blackhawk in at least 15 years.  December and January both set new lows before we got a small bump upward in February.  Demand is there, as we see both pending and closed sales plugging along at pretty much normal levels.  Prices have been mixed lately, with homes selling well below their asking price, on average.  The median sales price has been relatively stable.

15 properties were for sale at the end of February, up from 12 in January.  One year ago, 28 homes were actively listed.  Pending sales increased form six in January to 10 in February, double the number from a year earlier.  Six to twelve pending sales a month is pretty normal here.  Closed sales were little changed, eight in February, versus seven in January.  Supply relative to pending sales dipped form 2.0 months at the end of January to 1.5 months at the end of February.

The average sale in February was for 94% of the asking price, down from 95% in January but up from February 2015’s 92%.  February’s median sales price was $1,343,000, down 2% from January’s $1,368,000 but7% higher than February 2016’s $1,258,000.  The price per square foot fell from $457 in January to $431 in February.  Homes were on the market an average of 66 days in February, compared to 43 days in January and 73 days a year ago.

The tables below provide further details on the current market compared to prior periods, as well as a look at different market segments.

Sellers:  It is a great time to be selling a home in Danville.  Inventory is tight and demand remains strong, especially for prime properties in excellent condition that are priced right.  Proper marketing and staging will be important to getting the most for your home.  While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar.  More than ever, having a highly competent agent who knows the Danville market will be critical to your success

Buyers:  The current market is fairly balanced, especially compared to the previous few years.  Prime properties are still getting a great deal of attention and even multiple offers on occasion.  Being prepared to act quickly will be the key to getting the home you are looking for.  Having a professional Realtor who understands the Danville market and your own strengths as a buyer will put you in a strong position to secure the home you really want.

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