What's a Median Priced Home in Danville?

What can you get for that median price here?

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.

Sam Clemens January 25, 2013 at 02:54 PM
If a house doesn't sell quickly at a price it's priced too high; unless it's a house with unique aspects waiting for the subset of buyers that will pay accordingly.
CG January 25, 2013 at 03:56 PM
If I could also add some accurate information to this discussion: 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.
Vickie Nagy January 25, 2013 at 04:33 PM
News postings should use accurate data sources!
David Mills January 26, 2013 at 10:43 PM
Hello, readers: 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.
Sam Clemens January 27, 2013 at 12:58 PM
Where are prices vs 2007?


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