Dublin CA Homes for Sale | Dublin Market Update May 2015
Both the available inventory of homes for sale and the number of sales that went pending increased at about the same rate in May, leaving the market in about the same place at the end of May as at the end of April, which is to stay tight. Less than a month’s inventory was on the market at the end of May. Interestingly, price indicators actually softened in May and homes were on the market longer. I have no doubt those are not trends, as most homes are receiving multiple offers and selling above their asking price.
50 homes were available for sale at the end of May, up 47% from 34 at the end of April. Inventory was still well off the level of a year ago, which was low by historical standards. Pending sales increased 44%, from 41 in April to 59 in May. May’s 59 sales were 10 more than we had a year ago. May ended with a 0.8 month supply of inventory, unchanged from April cut well below the 1.3 months of a year earlier.
All price indicators decreased in May. The median sales price dipped $2,000 to $932,000. May’s price was still 17% higher than a year ago. The price per square foot fell from $384 in April to $368 in May. The average sale in May was for 102% of the original list price, down a little from 103% in April.
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. There just is not enough inventory to satisfy demand and it is the sellers who have the advantage right now. Proper marketing and staging will be important to getting the most for your home. Being prepared to evaluate multiple offers and sift through the options will be critical. While multiple offers will be the norm, being extremely familiar with the Pleasanton market will be critical to get the most value out of your home.
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Properties are not staying on the market long and multiple offers are the norm. Understanding the current market and your own strengths as a buyer will put you in a strong position to act on new listings. Intimate knowledge of the Dublin market is critical.