Dublin CA Homes for Sale | Dublin Market Update October 2017
- Inventory reverses its decline but still well below year ago
- Still less than a one month supply
- Pending sales fall
- Prices soften
- Homes under $1 million still in demand
The Dublin real estate market softened a bit in October, with inventory increasing, sales declining and prices weakening. That’s not to say the market is weak, it has just cooled down some from the hot place it has been in. There is still less than a one month supply and homes still sold for nearly their list price, on average. Homes priced under $1 million showed particular strength, as the demand for them outstripped the supply.
For the first time since June, more homes were actively listed at the end of October than the prior month. 36 properties were on the market at the end of October, versus 30 at the end of September. October’s inventory was still 32% lower than a year ago. Pending sales slipped 5%, from 43 in September to 41 in October. That was still 17% higher than October 2016’s 35. A0.9 month supply was on the market at the end of October, compared to 0.7 months at the end of September and 1.5 months a year earlier.
October’s median sales price was $931,000, down 6% from $989,000 in September and 5% from $980,000 in October 2016. The price per square foot also slipped, from $451 in September to $439 in October. October’s average sale was for 99% of the list price and took 20 days, compared to September’s 101% and 18 days, respectively.
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.