Closed sales of single family detached remained strong in Danville in July, as did the median sales price, although both fell from June’s levels. Homes were also on the market a little longer. Distressed sales (short sales and REO) increased but remained relatively low.
There were 58 closed sales during July, down 7% from 62 in June. That compares favorably to 42 during July 2011 and 38 during July 2010.
The median sales price fell 3%, from $905,000 in June to $880,000 in July. The median sales price a year ago was $852,000. The median price per square foot increased 7% to $345 in July from $322 in June. That was also higher than a year ago, when the median price per square foot was $319. The sales price as a percentage of the list price has remained pretty constant the past three months at about 99%. There were a large number of sales over $1 million again in July (18), versus 19 in June and 20 in May. By comparison, the monthly average of $1 million-plus sales during 2011 was 10.
July’s closed sales were on the market for an average of 49 days, compared to 43 days for sales that closed in June. Nine of July’s closings were distressed, compared to six during June. The median age was 49 years in July, up from 20 years in June.
Here is a list of all closed home sales in Danville in July: