Bettencourt Ranch Danville Market Update May 2011

It’s not clear where the Bettencourt Ranch neighborhood of Danville is headed at the moment. The neighborhood cooled off in the past six months after showing ever increasing activity for a year before that. Inventory is higher than it has been in quite a while and homes are staying on the market longer than they were six months ago. On the other hand, there are three new pending sales in April, along with three closed sales and two new listings, so activity may be heating up.

Nine homes are actively listed in Bettencourt Ranch. The average asking price is $996,750 or $312 per square foot. The average asking price per square foot is skewed higher than normal for this neighborhood by two homes; one on Westminster Place that is listed at $406 per square foot and another on Buckingham Drive that is listed for $369 per square foot. The nine homes have been listed for an average of 66 days. None of the active listings are short sales or REO.

Four sales are pending, with an average list price of $769,738 or $277 per square foot. These homes have been on the market for 22 days, on average. All of them, with the exception of the home on Sheffield Circle, are short sales.

Six sales closed in the past six months. The average sales price was $853,333 or $259 per square foot. That was 96% of the asking price. The homes were on the market for 72 days, on average. By comparison, the homes that closed in the prior six month period were listed for only 39 days. 1081 Yorkshire Place was an REO and 1179 Trowbridge Way was a short sale.

Bettencourt ranch features spacious upscale homes in the rolling hills off Tassajara Road in Danville. These homes feature floor plans ranging from 2,300 to 3,700 square feet on lots ranging from 6,000 square feet to 1/3 acre, many backing to open space and featuring views of Tassajara Valley.