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Appraisers Appraisal • February 28, 2023

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 (South)

 

Sold past 1-6 months (n=105) median (med) $1,600,000 Days on Market (DOM)=15

Sold past 7-12 months (n=198) med $1,926,000 DOM=7

 

This suggests a primary (yearly) change of -16.926%.

 

Sold past 1-3 months (n=36) med $1,424,500 DOM=9

Sold past 4-6 months (n=69) med $1,656,000 DOM=17

 

This suggests a secondary (quarter to quarter) change of -13.979%.

 

There are 22 active listings ranging from $878,500 to $4,695,000 with a median DOM at 12 days.  Range 1-93 days.

 

There are 23 pending listings (in contract) ranging from $735,000 to $2,850,000 with median DOM at 10 days.  Range 1-150 days.

1/4 review: yearly change -19.312%; quarter-to-quarter change –0.231% (stable – change of less than 2%).  11/01 review: yearly change -7.568%; quarter-to-quarter change -19.750%.  9/19 review: yearly change +1.695% (stable); quarter-to-quarter change -25.544%.

So, what’s going on?  Here we see that the yearly trend has moderated, and quarter-to-quarter trend has deteriorated.  The quarter-to-quarter figure is still off of the low from September however, its moderation has reversed.  We will have to see if this pattern becomes the norm.  I don’t think it will.  I believe we are seeing the typical trend variations.  I expect to we will have moderation in both the yearly and quarter-to-quarter trends in the near term with both turning positive by late Spring or early Summer.  We will have wait to see what the numbers tell us…

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) South of Sycamore Valley Rd/Camino Tassajara/Highland Rd, all MLS residential listings, effective as of 02/28/2023

 

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

#realestate #property #investment #househunting

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