The median price for a home in Danville right now is $1.1 million, according to the website movoto.com.
What can you get for that chunk of change? Here's one example.
A five bedroom, three bathroom house at 203 Kaitlyn Lane is listed at $1.17 million.
The home, built in 1996, is 3,469 square feet. It sits on a third of an acre with a sport court. The house has been on the market for almost two years.
Another example is a four bedroom, three bathroom home at 3108 Fox Creek Drive. It's listed at $1.2 million.
The home, built in 1988, is 2,746 square feet. It last sold in 1996 for $472,000. It's been on the market for about a month.
Please get the word out that homes are are selling very quickly, with multiple offers and above asking. if a house has not sold it's priced too high. We have many buyers seeking homes. Here are 3 houses that are the only ones available in this price range; 476 El Pintado 4/2 2958 sq ft $1.2m 11 days on market, 40 Meadow Lake 5/3 3000 sq ft $1.1m 15 days on market, 127 Sunhaven 4/3.5 3669 sq ft $1.295m 21 days on market. Rachael Hand, Coldwell Banker
The average 2012 sales price for single family homes in Danville was $905,369. The median price was $836,500 (per the MLS). The average price for single -family homes was up 5% from 2011. The number of units sold was up 12%. The real story, as a prior commenter stated, is the continued lack of inventory, which is driving prices up. Danville’s average months supply of inventory (MSI) in 2012 was 1.7 months. This is down 62% from 2011! MSI is the time required for all homes currently on the market to be sold at the current sales rate. A balanced market is more like 4-5 months so Danville is really unbalanced and favored towards Sellers as most local communities are.
Thanks for all the good input here. We are expanding the number of websites we use for these weekly stories and will be checking listings more carefully to make sure a home listed as "for sale" on a site is actually still for sale.