Dublin CA Homes for Sale | Dublin Market Update June 2016
- Pending sales fell for first time this year
- Inventory continued to rise
- Prices steady
- Days on market remains low
For the first time this year, pending sales fell during June, a month when sales usually increase. It certainly wasn’t for a lack of supply, as inventory increased again in June to its highest level in almost two years. There is no question that quality properties, properly priced attracted a lot of attention. The homes that sold in June did so in an average of only 17 days. It is also true that other properties have remained on the market longer. Buyers are out there but have been more selective the past few months.
64 homes were for sale at the end of June, up 11 from 53 at the end of May and up 39% from 46 a year ago. Pending sales, on the other hand fell from 56 in May to 52 in June, which was nine less than June 2015’s 61. One year ago, there was less than a month of inventory (0.8 months). At the end of June we had a 1.2 month supply. Closed sales, following the increase in pending sales the previous two months, increased from 47 in May to 53 in June. 61 sales closed in June 2015.
The median sales price in June was $985,000, down from $1,020,000. However, May’s price was an all-time high here and the mix of homes sold in June was more heavily weighted to the low end, causing the drop in the median sales price. June’s price was still 9% higher than a year ago. The price per square foot ($412) and the sales price to list price ratio (101%) were unchanged from May.
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. While inventory has increased and buyers are being somewhat cautious, there is strong demand, 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 many 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. Prime properties are getting a great deal of attention and multiple offers. The result is that they don’t stay on the market long. 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.