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The Danville real estate market saw a significant drop in closed home sales in July. There were 38 closed single family home sales during the month, compared to 61 in June. Junes higher number may have been affected the ending of the federal tax credit for home buyers. July’s closed sales were more in line with what we saw in May, which had 40. The median sales price for Danville was $882,500 in July, up from $832,500 in June and $870,000 in May. The median price per square foot was unchanged at $349 in July.
July’s closed sales were on the market from 46 days, largely unchanged from June’s 47 days. On average, homes sold for 97% of the asking price, up 1% from June’s 96%. 21% of the closed sales were distressed sales, either short sales or bank owned properties, up from 13% in June. 12 of the 38 home sales, or 32%, were over $1 million. That is about the same number of homes sold from over $1 million that Danville had in June but it is a much higher percentage due to there being fewer total closed sales.
The West side of Danville, along with Greenbrook and Brookside, all saw strong activity in July.
Here is a list of all closed home sales in Danville in July:
Danville Home Sales July 2010