Dublin CA Homes for Sale | Dublin Market Update October 2015
The slowdown that normally occurs in the fall definitely affected the Dublin real estate market in October. However, that slowdown was driven more by a lack of inventory than a lock of demand. While the pace was slower in October, buyers were still active and ready to act if they saw they home they liked. Fewer sellers (and in some cases less motivated sellers) lead to fewer sales and longer periods before homes sold. It was a spotty market, with activity being neighborhood, price and home specific. Price indicators were mixed, but the one constant has been the sales price to list price ratio which has hovered around 100% for over a year and was just that in October.
Inventory fell for the fifth straight month, from 33 homes in September to 30 in October, the lowest level since March and just over half the level of a year ago (57). A 0.8 month supply of homes for sale was available at the end of October, little changed from 0.9 months at the end of September.
Pending sales actually increased by one unit to 39 in October, compared to 37 in October 2014. Pending sales increased one unit to 39 in October, which was also two more than a year earlier. 75% of the pending sales were of homes priced under $1 million. Closed sales fell from 39 in September, to 35 in October versus 47 in October 2014.
September’s median sales price was $865,000, down 4% ($34,000) from $899,000 in September but up 5% from October 2014’s $825,000. The price per square foot increased $19 to $422 in October. The average sale in October was for 100% of the list price, compared to 101% in September and 100% 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 still a great time to be selling a home in Dublin. Inventory is down and there is still strong demand from buyers, 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 some properties, having a highly competent agent who knows the Dublin market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. 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.