Magee Ranch Danville Market Update August 2011

The Magee Ranch neighborhood of Danville keeps plugging along at about one sale per months, pretty much the past we have seen there for the past 18 months. The six closed sales over the past six months matches the six closed in the prior six month period. There are an additional two sales pending. Four homes are actively listed.

The four active listings are priced at $1,506,000, on average, or $352 per square foot. They have been listed for an average of 200 days, quite a bit longer than most properties are available for in this neighborhood. None of the active listings are distressed (short sales or REO).

The average list price for the two pending sales is $1,227,450 or $345 per square foot. They homes have been on the market for an average of 17 days. Neither home is distressed.

The six closed sales had an average sales price of $1,221,667 or $341 per square foot. That was about 98% of the asking price. The homes were listed for an average of 54 days, but if you exclude 9 Brightwood Circle, which was listed for 249 days, the average is only 15 days. 114 Windover Drive was a short sale.

Magee Ranch is an exclusive development of semi-custom homes and custom estates tucked in the hills of Tassajara Valley, with stunning views of the valley and Mt. Diablo. The homes range from 2,700 square feet to 6,000 square feet on large lots.