Danville CA Homes for Sale | Danville Market Update September 2015
It appears that home buyers in Danville went on a fall hiatus, as inventory increased and sales declined sharply. There is no question that the typical autumn slowdown is upon us. The pace of actively has slowed considerably and, while some homes are still receiving multiple offers, others are sitting on the market longer. There were more homes for sale here than at any time since April of 2012.
Pending sales accelerated the decline they have been on since April. 53 sales went to contract in September, a 17% decline from August’s 64. September still had more pending sales than a year ago, when 48 sales went to contract. Closed sales fell even more sharply, from 83 in August to 53 in September.
Inventory increased here, adding six units to tend the moth with 105 homes for sale. That is a third more homes than were on the market a year ago. The vast majority of the available inventory is homes priced at $1 million or more. A 2.0 month supply was available at the end of September, up from 1.5 months at the end of August. Homes took longer to sell also, 32 days in September versus 20 days in August and 22 days a year ago.
The median sales price in September fell 9%, from $1,160,000 in August to $1,059,000 in September. September’s median was 4% higher than September 2014’s $1,023,000. There was no change in the price per square foot at $458, while the sales price to list price ratio dipped to 98% in September from 99% in August.
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.