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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Danville is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Danville was a Buyer's Market.

Key Takeaway

Danville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Danville, IL

How much do homes in Danville, IL cost?

Median Sold Price

$29,000

$29/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$101,000(-77.7%)

Key Takeaway

Homes in Danville have sold for 77.7% less than they did a month ago.

Summary: The median home sold price in Danville was $29,000 in March 2024, down 77.7% from last month, and the median price per square foot was $29.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 -$20K
N/A
2 -$20K
N/A
3 $148K$39K
-73.6%
4 $130K$169.9K
+30.7%
5+ --
N/A

Summary: Danville housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 73.6%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Newell Township
+15.3%
Danville Township
-75.2%
Danville
-77.7%

Housing Supply in Danville, IL

How many homes are available in Danville, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4247+11.9%

Summary: The Danville real estate market had 47 homes for sale in March 2024, a 11.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 1115
+36.4%
3 1820
+11.1%
4 109
-10.0%
5+ 11
0.0%

Summary: The Danville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
312+300.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Danville, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Danville in March 2024, up by 300.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% 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

Feb 2024Mar 2024CHANGE
79 Days117 Days+47.6%

Summary: Homes in Danville had an average of 117 days on market in Mar 2024, up by 47.6% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Danville are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 12 homes were sold in Danville; 17% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 75% 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 17 Days Ago

Newest Listings in Danville, IL

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