Danville had 58 closed sales in the month of July, down 11% from 65 in June. The median sold price for July came in at $880,000, down $25,000 from $905,000 in June.
The average price per sqft. in July was higher than it was in June. July’s average list per sqft. was $365, up from $333 in June. The sold per sqft. for July posted $361, a $28.00 per sqft. increase from $333 in June.
The higher end market had a little bit of a hit In July, 18 units over $1 Million sold as compared to 19 units sold in June.
Of the 58 closed sales in July, 10 were distressed (short sale or REO). This is up from 9 in June but down 44% from 18 in May. July’s sales were on the market for 43 days, on average, compared to 41 days for June’s sales.
Danville’s inventory is at a six year low for July, posting only 89 homes for sale. Inventory is approximately 40% of what it was this time last year.