Danville CA (South)

by James Forquer

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

The Appraiser’s Appraisal

The Town of Danville (North)

Sold past 1-6 months (n=139) median (med) $1,950,000 Days on Market (DOM)=18

Sold past 7-12 months (n=256) med $2,227,500 DOM=7

This suggests a primary (yearly) change of -12.458%.

Sold past 1-3 months (n=52) med $1,737,687 DOM=25

Sold past 4-6 months (n=87) med $2,095,000 DOM=16

This suggests a secondary (quarter to quarter) change of -17.056%.

There are 34 active listings ranging from $499,900 to $8,500,000 with a median DOM at 11 days. Range 1-312 days.

There are 30 pending listings (in contract) ranging from $589,000 to $6,500,000 with median DOM at 23 days. Range 3-337 days.

1/3 review: yearly change -14.163%; quarter-to-quarter change –9.756%. 10/31 review: yearly change -3.153%; quarter-to-quarter change -6.810%. 9/18 review: yearly change +4.044%; quarter-to-quarter change -10.870%.

So, what’s going on? This is a new one. Here, we see that the yearly trend has moderated, and quarter-to-quarter trend has deteriorated. The quarter-to-quarter figure is below any prior observation. Days on market is also up. Maybe this has to do with their location along the Hwy 680 corridor South of Walnut Creek. BART (local dedicated commuter rail service) has no direct service along this route. Maybe that is having an effect but, this is only speculation. I still expect to see the quarter-to-quarter trend bottom out in the near term, if it has not already done so. Further, I expect that the yearly trend to follow within the next 60 to 90 days. We will just have to wait and see…

Have any other real estate questions? Want to know what is going on in a different market or sub-market? Just ask!

Appraiser legal stuff:

CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com jamesforquer@comcast.net Data is from EBRDMLS and includes The Town of Danville (incorporated), all MLS residential listings, effective as of 02/27/2023

Listing/Sales services provided through Coldwell Banker – Montclair 510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407

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