August looked remarkably like July as far as closed sales of single family detached homes in Danville are concerned, with the exception that the median sales price fell $25,000. 56 sales closed in August, down only two units from 58 in July. August’s sales were 14% higher than August of last year when there were 49.
August was the second month in a row that the median sales price fell $25,000 or about 3%. The median price in August was still $55,000 higher than it was a year ago. The median price per square foot increased $1 in August to $346, which was also higher than August of last year ($333). Closed sales in August received 97.5% of the asking price, on average, compared to about 99% for the past three months. 27% of August’s ales were for $1 million or more, a little less than July’s 31%.
August’s closings were on the market about the same length of time in August (46 days) as were July’s closing (49 days). There was one less distressed sale in August (8). The median age of Ausugt’s closed sales was 30 years compared to 49 for July’s closings.
Here is a list of all closed home sales in Danville in August: