Dublin CA Homes for Sale | Dublin Market Update November 2017
- Inventory falls again
- Pending sales drop sharply
- Prices stable
- Homes under $1 million still in very high demand
Typical for this time of year, inventory and pending sales fell in November, with both being at their lowest level since January. Low inventory continues to keep a lid on sales, especially for homes priced under $1 million. Only seven of those homes were on the market at the end of November. Quality homes are still selling quickly, with the average sale in November being for 101% of the list price and taking only 21 days to complete.
Inventory was off 22% from both October and a year earlier. 28 properties were actively listed at the end of November, compared to 36 at the end of October. Pending sales dropped 35%, from 37 in October to 24 in November. 28 sales went pending a year ago. The supply relative to sales actually increased, from 1.0 month at the end of October to 1.2 months at the end of November. There was a 1.3 month supply at the end of November 2016. Less than two weeks of inventory was on the market for homes priced under $1 million at the end of November.
November’s median sales price was $945,000, 3% higher than October’s and 4% higher than a year ago. Homes sold for 101% of the asking price in November, up from 99% in October and 100% in November 2016. On average, homes sold in November did so in 21 days, up from 19 days in October but down from 23 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 very low and demand is 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 has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. 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.