Danville CA Homes for Sale | Danville Market Update April 2016
The inventory of available homes for sale continued to climb in Danville in April and is now higher than at any time since September. Buyers seemed to pull back some in April, driving pending sales lower after two months of big increases in sales. That being said, we are still seeing multiple offers on many quality homes that are priced appropriately. The homes that did sell, sold quickly in April. In addition, prices increased in April, so there doesn’t appear to be any fear that the market will slow, despite the small drop in pending sales. On the contrary, I expect to see activity increase quite a bit in the coming months.
94 homes were actively listed at the end of April, up 47% from 67 at the end of March and 10% higher than April 2015’s 84 homes. Pending sales dipped from 65 in March to 54 in April. That was about two thirds of the pending sales a year ago. A 1.7 month supply was available at the end of April, up from one month at the end of March and 1.1 months in April 2015. Closed sales increased in April, following the increase in pending sales the prior months. 56 sales closed in April, compared to 49 in March and 75 a year ago.
The median sales price in April was $1,238,000, up 8% from %1,150,000 in March and 17% from $1,061,000 in April 2015. Homes sold in April received 101% of their asking price, compared to 100% in March. Those homes were on the market an average of only 13 days, versus 28 days in March and 20 days a year earlier. April’s price per square foot was $494, up from $439 in March and $437 in April 2015.
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 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.