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Danville CA Real Estate Market Watch - January 2011

By
Real Estate Agent with RE/MAX Accord
Latest Full Months Statistics for Danville CA Homes
(including Blackhawk and Diablo)
  Detached Single Family Homes Condominiums, Townhomes, Others
New Listings 35 18
New Sales Agreed 41 15
Closed Sales 46 15
Median Price
(Closed Sales)
$841,000 $445,000
Average Days on Market
(Closed Sales)
50 50


At the time of writing (January 11th, 2011) there were 142 detached single family homes for sale in Danville CA and 45 condos and townhomes etc., This represents around 3 months supply of homes of all types and would be generally considered a sellers' market by traditional standards.

Why then, if this is the case, are we not seeing rising prices? The answer relates to appraised value. Regardless of what price a buyer is willing to pay for a home, if recent comparable sales do not support that price, a sale is unlikely to be completed.

Not withstanding all this, the current low interest rates are certainly providing a motivating force for potential home buyers and increases here are a virtual certainty in the coming months.

So while home buyers in Danville CA may be frustrated by the lack of inventory, sellers should be aware that this is a great time to list their homes for sale, particularly if they are in desirable condition and realistically priced
.


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