Dublin CA Homes for Sale | Dublin Market Update December 2015
The result of having very few homes for sale is that very few sales occur – no surprise there. I think the surprise is that inventory is as low as it is; the lowest in nearly three years. We have to go back to February 2013 to find fewer available homes for sale in Dublin. While demand remained strong, even for typically slow winter months, fewer sales went pending in December than in any month in more than seven years. Prices rose, with the median sales price, price per square foot and sales price to list price ratio all climbing.
Inventory declined for the seventh straight month and only 14 homes were actively listed at the end of December. Compare that to 22 at the end of November and 25 a year ago. December’s 14 properties represented less than a month’s supply. January was the last time there was more than a month of inventory on the market.
The last time pending sales were lower than December’s 18 was in August 2008 when only 14 sales went to contract. 27 sales went pending in November and 28 in December 2014. The amount of time homes have stayed on the market has been fairly steady over the past ten months, staying in a band from 18 days to 29 days. December’s sales were available for an average of 20 days, down from 27 in November and 31 a year ago.
December’s median sales price increased 7%, from November’s $805,000 to December’s $860,000, which was the same as December 2014. December’s sales were for $413 per square foot and 101% of their list price, both statistics up from November ($386 and 100%, respectively). One year ago, homes sold for 98% of the average list price and for $358 per square foot.
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.