While the Danville real estate market underwent some improvement, many seller and real estate agents were left wanting. That’s because total sales fell a hefty 38.9-percent versus the previous month’s total of 18. In a broader perspective, September’s 11 sales represents no change whatsoever versus 1 year ago. What is positive is that the average number of homes sold per month from July through September of this year was up 50 percent compared to this same period 1 year ago—maybe every close does have a silver lining!
At least total pending sales—always a good indication of things to come in the near future—rose 5.9 percent versus the previous month. Compared to last September’s total of 15, this is a nice 20-percent increase. But the real difference can be seen in our quarterly comparison, as the average number of pending sales per month from July through September of this year climbed 63.6 percent versus this same quarter 1 year ago.
In what was surely a welcomed change by most sellers’ agents the total number of Danville homes fell 8 percent versus the previous month’s total of 138. This is significantly more compared to the 3.2-percent decrease that belonged to the Indianapolis real estate market during the same period. What’s more, September’s total of 134 listings represents a 5.2-percent decrease in the number of homes on the Danville real estate market. However, from July through September of this year there were, on average, 137 homes listed for sale per month, or 6.2 percent more, compared to this same quarter in 2010.
Some other Danville real estate market stats:
- Danville Indiana saw a slight increase in the total number of new listings that made their way to the market in September, as there were 32 new listings compared to 20 the previous month. The 12-month average is 28 new listings per month.
- The average differential between the ‘sold’ price and original list price dropped 4 percent, from 89 percent in August to 85 percent in September.
- Homes in Danville spent an average of 120 days on the market in September, up 27.6-percent from an already-unnerving 94 days in August. The 12-month average time on market in Danville is 91 days.
- The absorption rate based on closed sales in Danville was 8.7 in September. Meanwhile, the absorption rate based on pending sales was 14.2 percent.
- The median price was $133,000.