Danville's real estate market is experiencing a price correction, with values down 26.4% from last year. Home prices have decreased 8.3% in the past month. At the current pace, all available homes in Danville would sell out in just 0.6 months, indicating a continued supply shortage. Homes are now taking an average of 26 days to sell, significantly longer than the 17 days typical for this market. Only 0.0% of listings saw price reductions, suggesting sellers are confident in their pricing. Approximately 16.7% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Danville market with the affordability index at 187.0. Looking ahead, the Danville market is expected to maintain its current trajectory with relatively stable conditions.
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