It’s time for some graphs to show the real picture of what’s been going on in Danville lately. Inventory is low, prices are on the rise, and buyers are ready to do what they have to do to buy a home. Let’s show you the deets.
As you can see from our graphs below, the Danville market is experiencing a steady increase in the median and average sales price. It has sustained itself for the last 4 months in both the detached and condo/townhouse market. We know that the major lack of inventory has a lot to do with it, but it also goes to show the overall economic picture is on the rise.
Because of this competitive buyers market, buyers are bidding above the list price in order to be a contestants in the recent multiple offer situations. The average sold price is now over 100% of the list price received. Is anyone tempted to sell yet? I sure am.
Even though buyers are bringing their a-game to try to beat the competition, it’s not necessarily a bad thing. As soon as they do purchase a home, their newly purchased property will begin to appreciate in value quickly. And sellers, if you price your home right, you will most likely get multiple offers and a sale price above what you asked for.
Any questions or concerns? Did we convince you to sell your house? Just send us a quick email and we are happy to help.
