Danville CA Homes for Sale | Danville Market Update June 2015
Pending sales of single family detached homes have fallen in Danville for the past two months, while inventory has increased for three straight months. That is quite a change from where the market was just a few months ago, when sales were increasing rapidly and inventory could not keep pace. Even with the change, homes are not staying on the market long and are still selling for more than their list price, on average.
89 homes were available for sale at the end of June, four more than at the end of May and eight more than a year ago. That is not a large number historically for Danville but is the most in a year and the third highest level in the past three years. 71 sales went pending in June, two less than in May, while 70 sales closed (60 in May). Those changes left a 1.3 month supply at the end of June, up slightly from 1.2 months at the end of May.
June’s median sales price was $1,168,000, a small drop from $1,185,000 in May. The price per square foot was $486 in June, 8% higher than May’s $450. Homes sold for 101% of their average list price in June, unchanged from May. The average property was listed for 16 days in June, five fewer days than in May.
The tables below provide further details on the current Danville CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is still a great time to be selling a home in Danville. Even though inventory is up, there is still 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 some 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. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. 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.