(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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