Dublin CA Homes for Sale | Dublin Market Update June 2017
- Inventory increases 18%
- But is still 39% lower than year ago
- Sales constrained by low supply
- Low end of market is hottest segment
- Prices flat to May and year earlier
Dublin real estate sales are being held down due to the low level of inventory, which, at the end of June, stood at 40% below the level of a year ago. That was even after increasing 18% from May’s level. Pending sales in June were below those during May, as well as June 2016. Demand remains the strongest for homes priced under $1 million, where there was only a 0.4 month supply at the end of June. Prices in June were comparable to both May of this year and June of last.
39 properties were actively listed at the end of June, up from 33 at the end of May but well off June 2016’s 64 units. Pending sales fell 21%, from 58 in May to 46 in June. Supply relative to pending sales increased form 0.6 months at the end of May to 0.8 months at the end of June, compared to 1.3 months a year ago.
June’s median sales price was $982,000, 1% higher than May’s $977,000 and June 2016’s $975,000. The price per square foot dipped 3% in June to $439 but was 3% higher than a year ago.
The average sale in June was for 101% of the list price, down slightly form 102% in May and equal to June 2016’s ratio. Sales closed in May did so in an average of 17 days, up from 14 days in May and 16 days 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 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.