Danville CA Homes for Sale | Danville Market Update September 2016
- Pending sales tick up
- Inventory higher
- Days on market continues to rise
- Prices soften
Typically, activity slows in the real estate market as we enter autumn but Danville doesn’t seem ready to concede that yet. Pending sales were up 10% and inventory was up 13% in September. Prices softened a little and homes did stay on the market a little longer but buyers and sellers can both find things to be happy about in this market. With higher inventory comes more choices for buyers and strong demand creates better options for sellers of quality properties.
The average sale in September was for 96% of the asking price, down from 98% in both August of this year and September 2015. The median sales price in September was unchanged from August at $1,183,000. That was 11% higher than a year ago ($1,065,000). September’s price per square foot was $454, down from $466 in August and $456 a year ago. Sales closed in September in an average of 28 days, compared to 24 days in August and 32 days in September 2015.
118 homes were actively listed at the end of September, 14 more than at the end of August and 13 more than a year earlier. Five more sales went to contract during September (53) than in August (48). 57 sales went pending in September 2015. The end result of those changes was that supply was unchanged from August at 2.2 months.
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. Although inventory is higher than we have seen in a while, 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 more favorable to buyers than we have seen in a while. However, 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.