Dublin CA Homes for Sale | Dublin Market Update April 2017
- Strong demand
- Only 14 days on market
- Homes sell for 102% of list price
- Homes priced over $1 million make up nearly half of pending sales
Momentum has been building all year in the Dublin real estate market and that strength showed in April. Homes sold during the month were listed for only 14 days and sold for 102% of their list price, on average. Even with the strong demand, inventory managed a 37% jump. While demand is strongest for lower priced homes, higher priced homes continue to make up a larger portion of the market here, accounting for 48% of all pending sales and 43% of inventory.
48 sales went to contract in April, up 17% from March’s 41 but slightly lower than April 2016’s 49 sales. Inventory increased by 15 units, from 41 at the end of March to 56 at the end of April, which were also six more than at the end of April 2016. Inventory relative to sales increased slightly, from 1.0 month at the end of March to 1.2 months at the end of April.
April’s average sale took 14 days, compared to 35 in March and 23 a year ago. Sales in April were for 102% of the average list price, up from 101% in March. The median sales price fell 1% in April to $1,041,000. That was, however, 18% higher than April 2016’s $880,000. The price per square foot also fell slightly, from March’s $444 to $426.
The tables below provide further details on the current Dublin CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in Dublin. Inventory is low and demand remains strong, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Dublin market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Dublin market and your own strengths as a buyer will put you in a strong position to secure the home you really want.