Dublin CA Homes for Sale | Dublin Market Update September 2016
- Prices steady
- Inventory and sales virtually flat
- Days on market continues climbing
- Low end see strong demand
September was a “steady as she goes” month for the Dublin real estate market, for the most part. Inventory and pending sales were little changed, although closed sales were off from August. Prices were steady, with little change in the indicators from August. Homes are staying on the market longer, as buyers are more willing to take their time making decisions. The market saw demand across price ranges but the lower end was where the strongest demand was. Homes priced under $1 million sold in an average of 20 days for 100% of their average list price.
Inventory was little changed in September, increasing by one unit from August’s 63 homes. That was nearly double the 33 homes on the market a year ago. Likewise, pending sales did not change much, falling two units to 50 in September. 38 sales went to contract in September 2015. Supply relative to pending sales increased slightly, from 1.2 months at the end of August to 1.3 months at the end of September.
September’s median sales price was $911,000, 2% below August’s $928,000 but 1% higher than September 2015’s $899,000. The average sale was for 99% of the asking price in September, unchanged from August but below September 2015’s 101%. The price per square foot increased 4%, from $411 in August to $428 in September, compared to $403 a year ago. On average, homes sold in September did so in 26 days, up from 20 days in August and 21 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 still a great time to be selling a home in Dublin. Although inventory is higher than we have seen in a while, 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 more favorable to buyers than we have seen in a while. However, 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.