Danville Home Sales - Under List Price in 2023?

Single Family Detached Homes in Danville – Surprising 8 Months of Home Sales Under List Price in 2023

If you were looking for a city that consistently had homes selling under List Price in 2023, Danville was that city!  The Average Sold Price for single-family homes in Danville had 8 months that were lower than the Average List Price in 2023.  When comparing San Ramon, Pleasanton, Dublin and Danville, Danville is the only city in 2023 to end the year with the Average Sold Price less than the Average List Price.  Danville had an Average Sold Price of $2,202,151 in 2023, the year ended at 7.42% less than 2022’s Average Sold Price ($2,378,617).

Longer Days on the Market

If you sold a home in Danville, you probably felt like it was taking a long time to find a Buyer.  In 2023, it took an average of 20 days to find a Buyer compared to 17 days in 2022 and 12 days in 2021.  In fact, 2020 and 2023 had the same average number of days on the market. San Ramon & Pleasanton homes sold 5 days faster than Danville homes.  Seller had to be patient in Danville to sell their homes in 2023.

Lower # of Homes for Sale

Low inventory was the main story throughout cities in Contra Costa & Alameda County in 2023.  Danville ended with 476 homes sold in 2023.  It was a 17.79% decrease in the number of homes sold in 2022 (579 homes sold).  And it was a 51.5% decrease in the number of homes sold in 2021 (982 homes sold).  Homeowners were definitely staying put in Danville in 2023.  There were just not a lot of homes for sale, but the homes that were listed for sale, tended to be over-priced which is why Danville ended up having 8 months of home sales under list price.

Outlook for Danville in 2024

Danville’s Average Sold Price has consistently been above the 2 million price range since 2021.  I don’t see it going below 2 million, but I do expect for home buyers to continue to negotiate for home sales under list price.  During the last 11 years, there were only 3 years (2022/2021/2020) where the Average Sold Price was higher than the Average List Price.

I believe that low inventory will continue through 2024 and the market will continue to remain stable.  The average days on the market will continue to remain at 2-3 weeks before finding a buyer as homes tend to be a bit over-priced when they are listed.  If you are considering purchase a home in Danville, I think because of the election year, the fall/winter of 2024 will be a good time to take advantage of the slower market and purchase a home under list price.

Wondering What To Do?

The good news is that Danville homes have continued to increase in value!  If you purchased a home in 2013, home values have risen 98.23% in value.  The average home sales price in 2013 was $1,110,914.

If you are considering Selling your Danville home in 2024, the best time to go on the market based upon what happened in 2023, would be February/March through May.  Give me a call or send me a message and let’s strategize about how to get you the highest price for your home.

P.S.  Want to see what happened in San Ramon or Dublin in 2023?  Read my blog posts for San Ramon and Dublin.  You might be suprised how those cities did in 2023!