Dublin CA Homes for Sale | Dublin Market Update March 2016
There were more new buyers than sellers in the Dublin real estate market in March. Pending sales increased 34% in March, the third straight monthly increase. Inventory could not keep pace and was flat to February. The hottest part of the market was for homes priced under $1 million, where there were only 13 properties actively listed at the end of March. Prices were down slightly from February but homes still sold for more than the asking price, on average.
43 sales went to contract in March, up from 32 in February but still 17% below March 2015’s 52. Inventory was flat at 36 homes, eight more than a year ago. Supply relative to pending sales stood at 0.8 months at the end of March, compared to 1.1 months at the end of February and two weeks a year earlier.
The median sales price in March was $978,000, 2% lower than February’s $1 million but still 12% higher than March 2015’s $876,000. The price per square foot was also off 2% from February at $397. The average sales in March closed for 101% of the list price; up slightly form 100% in February. Closed sales increased from 17 in February to 32 in March. Those homes were on the market an average of 23 days, down from 30 days in February.
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 very low and there is 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.