Month-over-Month Changes

In March 2024, the Dublin real estate market observed some noticeable fluctuations compared to February 2024:

  • Homes Sold: Increased significantly by 41%, from 17 sales in February to 24 sales in March.
  • Median Sale Price: Saw a 14% rise from $1,630,000 in February to $1,865,000 in March.
  • Days on Market (DOM): Decreased to 6 days from 8 days in February.
  • Percentage of List Price Received: Sellers received 107% of their asking price, slightly up from 105% in February.

Analysis

The substantial increase in homes sold and the continued rise in the median sale price suggest an accelerating market activity. The reduction in DOM indicates a faster-paced market where properties are being sold more quickly, reflecting strong buyer demand.

Year-over-Year Comparison

Comparing March 2024 with March 2023 provides the following insights:

  • Homes Sold: Decreased by 27% from 33 homes sold in March 2023 to 24 in March 2024.
  • Median Sale Price: Increased from $1.46M in March 2023 to $1.87M in March 2024.
  • Days on Market: Improved, dropping from 8 days in March 2023 to 6 in March 2024.
  • Percentage of List Price Received: Improved from 102% in March 2023 to 107% in March 2024.
  • Months of Inventory: Decreased slightly from 0.8 in March 2023 to 0.6 in March 2024.

Analysis

The year-over-year comparison reveals a mixed market condition with a decrease in the number of homes sold but increases in sale prices and efficiency in sales transactions. The data indicates tightening inventory and higher competition among buyers, driving prices upwards.

Price Points and Quadrants

Breakdown of sales by quadrants for March 2024:

  • Top Quadrant: Median Sale Price: $2,710,000; Median DOM: 6; Avg. $/Sq.Ft.: $732.
  • Second Quadrant: Median Sale Price: $1,908,551; Median DOM: 8; Avg. $/Sq.Ft.: $806.
  • Third Quadrant: Median Sale Price: $1,619,000; Median DOM: 6; Avg. $/Sq.Ft.: $789.
  • Bottom Quadrant: Median Sale Price: $1,198,500; Median DOM: 7; Avg. $/Sq.Ft.: $929.

Analysis

The quadrant data showcases the diversity in Dublin’s real estate market. The top quadrant, with the highest prices and quick sales, indicates robust demand for high-end properties. Conversely, the bottom quadrant, despite lower prices, shows competitive activity, suggested by relatively low DOM and high average prices per square foot.

Conclusion

Dublin’s real estate market in March 2024 demonstrated an uptick in activity with more homes sold month-over-month and significant appreciation in property values. The year-over-year data shows a competitive market with rising prices, suggesting a strong market for sellers, particularly at higher price points. The varied activity across different market quadrants provides useful insights for buyers and sellers aiming to navigate the dynamics of Dublin’s real estate landscape.

Data provided by MLSListings and is deemed reliable but not guaranteed.