Danville South

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

The Appraiser’s Appraisal

Town of Danville (South)

Sold past 1-6 months (n=137) median (med) $1,625,000 Days on Market (DOM)=15

Sold past 7-12 months (n=192) med $2,013,933 DOM=6

This suggests a primary (year) change of -19.312%

Sold past 1-3 months (n=56) med $1,621,250 DOM=16

Sold past 4-6 months (n=81) med $1,625,000 DOM=14

This suggests a secondary (quarter to quarter) change of -0.231% (effectively stable).

There are 22 current active listings ranging from $750,000 to $3,989,000 with median DOM at 40 days.  Range 1 – 195 days.

There are 4 pending listings (in contract) ranging from $975,000 to $2,298,000 with median DOM at 23 days.  Range 15 – 64 days.

So, what’s going on?   The 11/01 review suggested a primary decrease of -7.568% and a secondary decrease of -19.750%.  The 9/19 review suggested a primary increase of +1.695% (stable) and a secondary decrease of -25.545%.  The primary trend has gone from stable (change of less than 2%) to negative, then further negative.  The secondary trend appears to have moderated and is now considered stable.  Based on median values, Southern Danville has lower prices as compared to the Northern section.  Perhaps price points play into how the market responds to interest rates.  This demonstrates the huge number of variables which can influence real estate values.  Regardless, the secondary trend now shows stable.  Interesting, no?  I still see interest rates causing short term instability and expect these effects to be short lived.   Months rather than years.  We will have to wait and see.

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) South of Sycamore Valley Rd/Camino Tassajara Rd/Highlands Rd, all MLS residential listings, effective as of 01/04/2023

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