Dublin CA Homes for Sale | Dublin Market Update August 2017
- Inventory lowest since January
- Less than half the supply of a year ago
- Lack of inventory impacting sales
- Pricing mixed
Inventory fell again in August and we ended the month with fewer homes for sale at any time since January. Demand remained strong but with such low supply, sales were down from August, as well as from a year ago. Pricing was mixed, with the median sales price increasing but other indicators down. Quality properties are selling quickly, as evidenced by the fact that homes sold in August were listed for only 19 days, on average.
Only 32 properties were actively listed at the end of August, down from 35 at the end of July and about half of the 63 available at this time last year. Pending sales dipped 11%, from 46 in July to 41 in August and 51 in August 2016. Inventory relative to pending sales remained unchanged from July at 0.8 months, compared to 1.2 months a year ago.
August’s median sales price $1,045,000, up from $1 million in July and 13% higher than August 2016’s $928,000. The price per square foot, on the other hand dipped in August, from $432 in July to $415, which was slightly higher than last year’s $411. The average sale in August was for 99% of the list price, down from 100% in July but the same as one year earlier. Homes sold in August closed in an average of 19 days, down from 30 days in July and 20 in August 2016.
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 very low and demand is 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 has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. 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.