Dublin CA Homes for Sale | Dublin Market Update September 2017
- Inventory continues steady decline
- Demand strong as pending sales rise
- Homes on market only 19 days
- Average sale was 100% of list price
- Homes under $1 million sold in two weeks
Demand remained very strong in Dublin in September. Pending sales rebounded from August’s drop, even though inventory continued to fall and was less than half the level of a year ago. Homes across market segments were in demand but those priced under $1 million saw particularly strong interest and sold in an average of only two weeks. September’s average sale was for 100% of the list price.
44 sales went to contract in September, in spite of the declining inventory. That was 16% more than August’s 38 but 15% less than September 2016’s 52. Inventory slipped two units, from 32 at the end of August to 30 at the end of September. September’s supply was 15% less than a year ago. Only a 0.7 month supply was available at the end of September, little changed from August’s 0.8 months but down from 1.2 months a year ago.
Homes sold for an average of 100% of their list price in September, up slightly from 99% in August. The average sale took 19 days in September, compared to 21 days in August and 27 days in September 2016.
The median sales price was $980,000 in September, off 7% from August’s $1,055,000 but 8% higher than September 2016’s $910,000. The price per square foot increased 7%, from $414 in August to $444 ub September. It was $427 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.