Dublin CA Homes for Sale | Dublin Market Update November 2016
- Inventory constrained
- Sales down
- But there is still demand
- Prices flat-ish
Inventory continued to fall in Dublin, pretty typical for this time of year. Demand is there, particularly for prime properties (good location and condition, well priced) but buyers are less willing to bid aggressively, even in multiple offer situations. Pricing remains pretty steady, with the median sales price declining but other indicators rising. The time on the market actually declined in November compared to last month, as well as a year ago.
Only 36 homes were available for sale at the end of November, down 32% from 53 at the end of October. November ended, however, with 22 more homes on the market than at the end of November 2015. A 1.1 month supply was available at the end of November, compared to 1.5 months at the end of October and 0.8 months a year ago. Pending sales dipped four units, from 36 in October to 32 in November. One year ago, 28 sales went to contract.
The average sale in Dublin during November was for 100% of the asking price, up from 97% in October and equal to November 2015. The price per square foot increased 4%, from $402 in October to $417 in November. The median sales priced dipped 6% in November to $913,000, a loss of $67,000 from October’s $969,000. The average time on the market was 24 days in November, compared to 34 days in October and 29 days a year earlier.
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 low and demand remains 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 is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. 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.