Danville is one of the most upscale communities in the East Bay Area located on the 680 corridor. I took at look at what is happening in that market over the last 6 months. These numbers are based on an MLS search on May 6, 2009.
The market in Danville is up and down. There was a fall off for the holidays which can be expected, but it bounced back slow. The relatively small number of sales can explain the up and down numbers, as one or two sales can skew the figures. It does appear there is a slow downward trend. I believe the most important number to look at in terms of trends is the price per SF.
There is about an eight to nine month supply of homes which is an indicator of a buyers market. However, there is a low number of bank owned homes (7) and short sales (24) compared to other markets in this area. That bodes well for sellers.
As I looked at individual homes in the market there was still a wide variety of pricing that did not fit the SF model, so I looked at some other factors: 1) Lot size, 2) Single story vs. multi-story homes, and 3) Homes with pools. Some of these factors can overlap; pool homes and single story homes would also have bigger lots.
Lots over 10,000 SF tended to sell much higher than homes less than 10,000 SF, and single story homes tended to sell much higher than multi-story homes. The pool factor had some effect, but not much compared to the other two. Each home is unique and if you want an evaluation of your home please let me know.
If you are interested in Buying a Home or Selling a Home in Danville or anywhere in East Contra Costa County, Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg and others please contact me. I specialize in helping buyers of Bank Owned Homes. For regular updates please subscribe to this blog.
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