Dublin CA Homes for Sale | Dublin Market Update July 2017
- Inventory remains low
- Less than half the supply of a year ago
- Lack of inventory impacting sales
- Prices hold
With less than half the number of homes for sale as there were a year ago, there just isn’t enough inventory to fill the demand. That is keeping a lid on sales. Prices, however, are not rising the way we might expect, given that dynamic. Most pricing metrics have held pretty constant over the past few months.
The median sales price increased 3%, from $980,000 in June to $1,010,000 in July. That’s a healthy monthly increase but the median was still only 4% higher than a year ago. Homes sold in July did so for an average of 100% of the original list price, down slightly from 101% in June and 102% in July 2016. July’s price per square foot dipped slightly to $431, from $437 in June. Homes that sold in July were listed for an average of 30 days, compared to 18 days for June’s sales and 17 days a year earlier.
Inventory fell 10%, from 39 properties at the end of July to 35 at the end of June. July’s inventory was less than half the number from July 2016, when 73 homes were actively listed. Pending sales still managed a two unit increase in July, from 45 in June to 47. Only a 0.7 month supply was available at the end of July, compared to 0.9 months at the end of June and 1.5 months at the end of July 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.