Dublin Market Update December 2009 – Still HOT!

Pending sales outpaced inventory for the second month in a row in Dublin as inventory levels fell for the third straight month. There were only 22 single family homes for sale at the end of December, down from 29 in November. That was less than 25% of the level seen a year ago and only 15% of the inventory we had as recently as mid-2007. Low inventory and the winter slow period began to take their toll in December as pending sales also decreased by four, from 26 in November to 22 in December. That was the second lowest pending sales figure we saw all year.

All Dublin Single Family Homes

Inventory Vs Pending Sales Dec 09

The past eight months have all looked very similar, with inventory falling and pending sales virtually equaling that inventory. I imagine inventory levels will increase some as we head into spring but it appears that demand is there to match it for now. It would be nice if the banks would start to release some of that “shadow inventory” of foreclosed homes soon…