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

Since last month, Danville has remained a Seller'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

$47,000

$24/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$94,000(-66.7%)

Key Takeaway

Homes in Danville have sold for 66.7% less than they did a month ago.

Summary: The median home sold price in Danville was $47,000 in May 2024, down 66.7% from last month, and the median price per square foot was $24.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 -$126K
N/A
3 $180.3K$18K
-90.0%
4 $118.7K$42K
-64.6%
5+ --
N/A

Summary: Danville housing prices by bedroom type for May 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 90%, 4 bedroom homes decreased by 64.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Blount Township
-24.9%
Danville Township
-50.3%
Danville
-66.7%

Housing Supply in Danville, IL

How many homes are available in Danville, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2729+7.4%

Summary: The Danville real estate market had 29 homes for sale in May 2024, a 7.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 56
+20.0%
3 1313
0.0%
4 77
0.0%
5+ 12
+100.0%

Summary: The Danville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
610+66.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 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. 80% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Danville in May 2024, up by 66.7% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% 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

Apr 2024May 2024CHANGE
53 Days61 Days+15.5%

Summary: Homes in Danville had an average of 61 days on market in May 2024, up by 15.5% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 May 2024, 10 homes were sold in Danville; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 2 Days Ago

Newest Listings in Danville, IL

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