Is Danville, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Danville is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Danville was a Seller's Market.

Key Takeaway

Danville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Danville, IL

How much do homes in Danville, IL cost?

Median Sold Price

$66,000

$47/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$8,250(-11.1%)

Key Takeaway

Homes in Danville have sold for 11.1% less than they did a month ago.

Summary: The median home sold price in Danville was $66,000 in October 2024, down 11.1% from last month, and the median price per square foot was $47.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $66K$17.4K
-73.6%
3 $165K$93K
-43.6%
4 $42K-
N/A
5+ --
N/A

Summary: Danville housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 73.6%, 3 bedroom homes decreased by 43.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Danville, IL

How many homes are available in Danville, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2826-7.1%

Summary: The Danville real estate market had 26 homes for sale in October 2024, a 7.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 65
-16.7%
3 1615
-6.3%
4 43
-25.0%
5+ 12
+100.0%

Summary: The Danville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
83-62.5%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Danville, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Danville in October 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Danville, IL

How long does it take to sell a home in Danville, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
57 Days34 Days-39.6%

Summary: Homes in Danville had an average of 34 days on market in Oct 2024, down by 39.6% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Danville are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Danville; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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