Dublin CA Homes for Sale | Dublin Market Update February 2017
- Strong demand in high end
- Inventory still low – but increasing
- Sales pick up
- Days on market declines
February was a turnaround month for Dublin real estate. After eight months of declining or flat sales, pending sales increased 32%. Inventory rose for the second straight month and homes were on the market for 11 fewer days in February. These are typical trends for this time of year but after several sluggish months, it was good to see the turn. Once again, homes priced over $1 million showed strong demand and made up half the city’s inventory and more than half of pending sales.
Inventory increased 17%, from month-end January’s 29 homes to February’s 34. That compares to 36 properties on the market a year ago. Pending sales increased form 22 in January to 29 in February, which was one more than in February 2017. 24 sales closed in February, three more than in January and seven more than a year ago. Those 24 sales closed in an average of 32 days, compared to 43 days for January’s sales and 30 days for sales that closed in February 2016.
February’s medians sales price was $1,048,000, down 9% from January’s $1,150,000 but up5% from February 2016’s $1 million. The price per square foot in February was $407, up from $39 in January and $404 a year earlier. On average, homes sold for 99% of their list price in February, up slightly from 98% in January and a year ago.
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.