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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Danville is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Danville was a Seller's Market.

Key Takeaway

Danville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Danville, IL

How much do homes in Danville, IL cost?

Median Sold Price

$141,000

$93/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

+$103,500(+276.0%)

Key Takeaway

Homes in Danville have sold for 276% more than they did a month ago.

Summary: The median home sold price in Danville was $141,000 in April 2024, up 276% from last month, and the median price per square foot was $93.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 $20K-
N/A
2 $28.7K-
N/A
3 $39K$180.3K
+362.5%
4 $169.9K$118.7K
-30.1%
5+ --
N/A

Summary: Danville housing prices by bedroom type for April 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 increased by 362.5%, 4 bedroom homes decreased by 30.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Danville
+276.0%
Danville Township
+152.0%
Blount Township
+42.4%
Tilton
-92.5%

Housing Supply in Danville, IL

How many homes are available in Danville, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4036-10.0%

Summary: The Danville real estate market had 36 homes for sale in April 2024, a 10.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 137
-46.2%
3 1618
+12.5%
4 89
+12.5%
5+ 11
0.0%

Summary: The Danville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 46.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
146-57.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Danville in April 2024, down by 57.1% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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

Mar 2024Apr 2024CHANGE
101 Days53 Days-47.8%

Summary: Homes in Danville had an average of 53 days on market in Apr 2024, down by 47.8% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was 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 April 2024, 6 homes were sold in Danville; 50% of homes were sold within 30 days, 17% 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 28 Days Ago

Newest Listings in Danville, IL

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