In the last 6 months, home sales spiked up in the Sycamore Area in Danville. April was the strongest month with 6 closed home sales. A big factor that may have influenced this strong activity was the federal home buyer’s tax credit which ended that month. After April, the market remained normal with one sale in August and no sales in both September and October. There is one active listing and four pending sales during this period.
The property on Graham Court, which is the only active listing, is being sold at $875,000, which is $330 per square foot. It has been listed for 68 days in the market and is neither a short sale nor REO.
On the other hand, the 4 pending sales have an average selling price of $820,500, or $298 per square foot. The homes were listed for 49 days average. There are 2 short sales – the home on Park Hill Road and the home on Marilee Place.
During the past 6 month period, there were 12 closed sales, which is more than double the amount from the prior 6 month period, with only 5 closed sales. The number of sales in the past six months is at the same level with the same period in the past year, when there were 10 closed sales. The 12 closed sales had an average selling price of $815,867, which is $330 per square foot. The homes sold for 98% of the listing price and stayed on the market for an average of 34 days. There were 5 distressed properties. In other words, 42% of all the homes were either short sales or REO.
The Sycamore Area encompasses the north and south parts of Sycamore Valley Road. It includes many neighborhoods built from 1967-1987 such as Sycamore, Sycamore Creek, Sycamore Hills, and Dansborough. Many homes belong to a Homeowner’s Association and have amenities such as community pools and facilities.
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