Dublin Market Update August 2011 – Tight Again

After seeing its string of four consecutive months of increasing pending sales broken in July, the Dublin real estate market went right back to rising sales again in August.  There were 41 pending sales in of single family detached homes in Dublin in August, up nearly21% from 34 in July.  That is the largest number of sales for a month this year and the highest since there were 43 sales in August of last year.  Inventory fell by two units to 57 at the end of August, a 3% decrease.  As a result, inventory relative to pending sales fell to 1.4 months in August, from 1.7 months in July.  The market is getting close to where it was early last year when inventory and pending sales were about equal for several months, although we are not there yet.

All Dublin Single Family Homes
Inventory Vs Pending Sales August 2011

Inventory has been falling since peaking in May and sales have been on the rise since February, with one downward blip in July.  That has made for an increasingly tighter real estate market in Dublin.