Blackhawk CA Homes for Sale | Blackhawk Market Update May 2016
- Buyers cautious
- Inventory flat from April
- Pending sales virtually flat all spring
- Price indicators mixed
While not exactly sleepy, the Blackhawk real estate market has not been very exciting this spring. Inventory has increased but was below the levels of a year ago. Pending sales have been virtually flat, along with prices. Uncertainty about the election and the economy continue to make buyers of high end housing very cautious.
38 properties were actively listed at the end of May, unchanged from April but three less than a year ago. Between ten and twelve sales have gone to contract in each of the past four months, including 10 in May. Eleven sales went pending in May 2015. A 3.8 month supply was available at the end of May, up from 3.2 months at the end of April.
The median sales price in May was down 10% from April’s $1,537,000 to $1,388,000. May’s price was also 4%lower than May 2015’s $1,450,000. The price per square foot was little changed at $453 in May, which was $24 lower than a year ago. The average sale in May was for 100% of the list price, compared to 94% in April and 97% a year earlier. Homes were on the market an average of 29 days in May, down from 40 days in April and 40 days in May 2015.
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 remains low and there is strong demand from buyers, 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 many properties, having a highly competent agent who knows the Danville market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Prime properties are getting a great deal of attention and multiple offers. The result is that they don’t stay on the market long. 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.