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Homes for Sale and Real Estate Market Update for Dublin CA June 2018

Homes for Sale and Real Estate Market Update for Dublin CA June 2018

Hi, everybody. It’s Doug Buenz with the 680 Homes Group here at Venture Sotheby’s and this is a quick market update for Dublin, California here on June 26, 2018.

The theme of the day for the Dublin market is that things have cooled a little bit. We are in the middle of summer. Buyers are distracted, on vacation, et cetera, or maybe just worn out from the frantic pace of the market the first two quarters. But in any event, statistically the market has cooled off some in Dublin.

If you’re looking at single family homes in Dublin under $1,000,000, which is getting a little more rare, there are 14 for sale right now. That’s up 100% or double what it was last month at this time. Pending sales are up slightly, 5%. There are 22 pending sales, so that’s a sign of stability. Sold properties are unchanged at 15 for this month to date compared to last month to date. The average sales price per square foot is $577 for single family homes under $1,000,000. That’s down 4%. Average days on market is up 86% to 13 days. That’s an indicator that the market pace has cooled some, and a good time for buyers to jump in. The average sales price to list price ratio for homes under $1,000,000 in Dublin is 106%, so it’s still multiple offer territory, but that’s down 1% from last month at this time

If you look at the market over $1,000,000, we see further evidence that the market has cooled some. There are 32 homes for sale right now in Dublin over $1,000,000. That’s up 28% from last month. There are 20 pending sales over $1,000,000, and that’s down 23% from last month at this time, and there’s 19 closed sales, which is down 32% from last month at this time. So you can see statistically that the market over $1,000,000 in Dublin has cooled some.  The average price per square foot is $454 for sold properties. That’s unchanged. Average days on market is 11 days, so this here’s a statistical outlier. The average days on market actually fell for closed properties, so it’s down 45% or 11 days on the market. Now remember, that’s for closed properties. That does not take into account homes that are for sale that might be on the market for longer, but for the properties that sell, which are the prime properties, average days on market is 11 so far this month, and that’s down again 45% from last month at this time.  Sales price to list price ratio is 104%. That’s up a little bit from last month, so overall, the pace of the market seems to have slowed some, but there’s still strong demand and we expect the market to maintain some stability here as we head towards the fall.

As always, if you know someone that could benefit from this market update, please share it with them, and if we can help you at all, please give us a call. Again, Doug Buenz, the 680 Homes Group at Venture Sotheby’s. You can reach us at 925-621-0680 or our website, 680homes.com. Thanks for watching.