Dublin January Market Update - Activity Remains Steady

The Dublin CA real estate market was relatively steady in January, with inventory flat and sales down slightly after a strong December. Dublin, which sees the majority of its sales activity well under $1 million, has been fairly steady throughout most of 2008. But prices are down. The median home price for Dublin is approximately $650,000. However, like most of the East Bay, Dublin has seen significant downward pressure through 2008, and the large number of short sales and foreclosures have taken their toll on the home prices. This graph shoes the Median Price per Sq Ft, which is down sharply.

Sales activity is stronger in the lower price ranges, and in Dublin the combination of newer properties and a large number of distressed sales has helped make it one of the more active markets in the East Bay, with under 4 months of inventory available. Activity is likely to remain steady throughout 2009 as first time buyers and investors take advantage of the lower prices.

Inventory of available single family homes in Dublin was flat, with 84 homes for sale at the end of January, the same as at the end of December. Sales were down after a spike in December, with 26 pending sales in January, compared to 30 pending sales in December. Overall, there is just over a three month supply of homes in Dublin, which makes it one of the more balanced markets in the East Bay.

Buyers seeking value and a selection of newer homes tend to gravitate to Dublin, which also offers excellent commute accessibility to both BART and I-580 & I-680. The continued commercial and retail development is also helping to attract buyers, as well as the improvement in the schools. Dublin should continue to see decent sales activity as we enter the Spring.