Danville Market (CA)

What the heck is going on in the Real Estate Market?

The Appraiser’s Appraisal

Town of Danville (North)

Sold past 1-6 months (n=167) median (med) $2,000,000 Days on Market (DOM)=16

Sold past 7-12 months (n=245) med $2,330,000 DOM=6

This suggests a primary (year) change of -14.163%

Sold past 1-3 months (n=81) med $1,850,000 DOM=26

Sold past 4-6 months (n=86) med $2,050,000 DOM=12

This suggests a secondary (quarter to quarter) change of -9.756%.

There are 32 current active listings ranging from $599,000 to $8,500,000 with median DOM at 81 days.  Range 12 – 257 days.

There are 14 pending listings (in contract) ranging from $1,275,000 to $8,000,000 with median DOM at 16 days.  Range 1 – 337 days.

So, what’s going on?   The 10/31 review suggested a primary decrease of -3.153% and a secondary decrease of -6.810%.  The 9/18 review suggested a primary increase of +4.044% and a secondary decrease of -10.870%.  The primary trend has gone from positive to negative then further negative.  The secondary trend appears to have started to moderate but then went further negative.  I still believe we are seeing seasonality.  The fluctuations are the result of uncertainty by both buyers and sellers.  Inventory is still limited, and I suspect these fluctuations will not last.  We may see some further declines if the SF markets are any indication however, I still expect to see modest increases by the Spring and Summer.

Want to know what’s going on in a different market or sub-market? Just ask!

Appraiser legal stuff:

CA OREA License No. AR041451 – JamesForquer.com – jamesforquer@comcast.net

Data is from EBRDMLS and includes the Town of Danville (incorporated) North of Sycamore Valley Rd/Camino Tassajara Rd/Highlands Rd, all MLS residential listings, effective as of 01/03/2023

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