Danville CA Homes for Sale | Danville Market Update December 2015
It took just three short months for Danville’s inventory to drop 70%. It was only September when there were 105 properties actively listed in Danville, the most in two years. By the end of December, that number was cut to 30, the fewest since 2005. Pending sales continued the decline they have been on since April, posting their lowest number of 2015. Even with the rapidly declining sales, price indicators held their ground.
December’s 30 actively listed homes were 22 less than November’s 52 and nine less than December 2014’s 39. Pending sales fell from 37 in November to 31 in December, compared to 26 a year ago. The fact that sales fell more than inventory cut the supply from 1.4 months at the end of November to just one month at the end of December. One year ago, there was a 1.5 month supply available.
December’s median sales price was $1,190,000, a 3% increase from November’s $1,152,000. December was also 10% higher than a year ago when the median was $1,085,000. Homes sold in December for 97% of their list price, on average, up from 95% in November but one percentage point lower than a year ago. The price per square foot fell in December to $433, a loss of 2% from $440 in November. The average sale took 39 days in December, compared to 37 in November and 31 in December 2014.
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. Inventory is down but 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.