The city of Danville, Indiana didn’t fare as well as other cities in Central Indiana as the total number of homes sold dropped from 9 in January to just 6 in February. This is almost identical to the figure of 7 homes sold in February of 2009. The decline in the total sold, however, was offset somewhat by the total number of pending sales, with 14 pended in February. There was half this number the same time last year. The total number of Danville homes for sale rose to its highest total in 9 months to 110 listings. This is up 12 percent from January’s total of 98 and 3.8 percent from last year’s total of 106.
In other not-so-good news for Danville sellers the average sold-list differential dropped from 93 the previous month to 91—a fairly significant disparity compared to other nearby cities in Central Indiana. The sold-list differential was 94 percent last year this same time.
Indeed, the Danville real estate market has favored the buyers every since February of 2009 as the average cost per square foot has been on a steady decline, dropping from $82 last year to $58 this year.
One the plus side for sellers, even though the average number of 93 days spent on market was up a bit from January’s total of 90 it was still down from the whopping 163 days spend on market in February of 2009.
The average active price of a home for sale in the Danville real estate market was $225,000. This is up nearly 3 percent from last years’ average active price of $219,000.