Now we are well into 2019, this is a good time to review the current state of the Danville real estate market. How do the activity, and sale prices, compare with a year ago? Can we get an idea about the direction the market is moving in? Is now a good time to sell? April, May & June are normally peak times for Danville real estate activity so this is the perfect time for such an analysis.
The table above gives a pretty good picture of how the market has changed over the past year. We have seen a reduction in the numbers of homes listed for sale and there is still little more than 1 months supply, which is generally considered to be a sellers’ market. Sale prices have moved very little though and homes are no longer selling for more than list price. All of this indicates a market that is no longer fast-rising. And what is not shown in this table is that many homes have had price reductions before achieving a sale.
It’s still a good time to sell, and should continue to be while there is such a limited supply of homes for sale. Danville will always be a desirable place to buy. Barring any kind of economic upset, I expect to see a very similar picture in another 6 months.