Improvement could be seen in many areas of the Danville real estate market in February of 2012. But this is not to say it was without its shortcomings. For example, total listings rose 1.8 percent. While this is not a terrible thing it does not help a market that is already struggling with an over-abundance of listings already. What’s more, compared to last February’s total of 102 listings this is actually an increase of 12.7 percent. In comparison, the neighboring Indianapolis real estate market saw a 15.2-percent decrease in the total listings versus where it was 1 year ago. In a different comparison, the Danville Indiana market saw an average of 114 homes listed per month from December of 2011 through Indianapolis real estate of this year, or 11.8 percent fewer, compared to this same period 1 year ago.
One area of significant improvement was that of total sales. There was a healthy 28.6-percent increase in the total number of homes sold in February compared not only to the previous month, but to last February as well. From December of 2011 through February of this year there were, on average, 25 percent more closings each month compared to this same period last year.
While February’s total of 14 pending sales was unchanged versus that of the previous month, a distinct 7.7-percent improvement could be seen in comparison to last February’s total of 13. There was an average of 12 transactions in the monthly sales pipeline from December of 2011 through February of this year. This too is unchanged from this same period 1 year ago.
Some other notable Danville real estate market statistics:
- Homes in Danville spent an average of 148 painful days on the market in February. Not only is this 42.3 percent worse than the previous month’s average of 104 days, but it is 2.6 times worse than last February’s average of just 56 days! The 12-month average time on market in Danville is 94 days.
- Homes in Danville went for an average of 84 percent of original list price—not great, but at least better than the previous month’s average of 76 percent. Last February, homes in Danville were selling for an average of 94 percent of original list price.
- The sold-list differential based on final list price in February was 90 percent. This represents a slight worsening relative to last February’s average of 96 percent. The 12-month average for this stat is 95 percent.
View other Danville Real Estate Market Reports here.