Dublin CA Homes for Sale | Dublin Market Update August 2015
August was not a strong month for real estate in Dublin. Fewer homes were available for sale, sales fell sharply and prices declined. The median sales price was even lower than it was a year ago, something we have not seen here in quite a while. There seems to be quite a bit of uncertainty right now, affecting both the real estate and stock markets. Buyers are still there but they are a bit more cautious. While some homes still receive multiple offers, which is not the case as often as we have seen most of this year.
34 homes were for sale at the end of July, four fewer than at the end of August and less than half of what was available a year ago. Pending sales dropped 38%, from 60 in July to 37 in August. August also had 14 fewer pending sales than did August 2014. Closed sales fell 11% from July and 16% from a year ago. The average sale closed in 18 days in August, little changed from 19 days in July.
August’s median sales price was $844,000, down 13% ($121,000) from $965,000 in July and even off 1% from August 2014’s $855,000. Not all the news on the pricing front was bad, however. The price per square foot increased from $395 in July to $411 in August. In addition, homes still sold for 100% of their list price (on average) in August; off slightly form 101% in July but higher than August 2014’s 99%.
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 still a great time to be selling a home in Dublin. There is still strong demand from buyers, 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 some properties, having a highly competent agent who knows the Dublin market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. 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.