Month-over-Month Changes

In January 2024, the Dublin real estate market experienced significant changes compared to December 2023:

  • Homes Sold: There was a notable decrease in the number of homes sold, with 9 homes sold in January, marking a 44% decrease from 16 sales in December.
  • Median Sale Price: The median sale price saw a 13% decrease, moving from $1,650,000 in December to $1,428,628 in January.
  • Days on Market (DOM): The average days on market rose to 15 days in January, up from 8 days in December.
  • Percentage of List Price Received: Sellers received an average of 102% of their asking price in January, slightly up from 101% in December.

Analysis

The month-over-month data indicates a cooling in the Dublin real estate market, with fewer homes sold and a decrease in median sale prices. The increase in DOM suggests a shift towards a more balanced market. However, the fact that sellers received more than their asking price on average indicates continued buyer competition.

Year-over-Year Comparison

Comparing January 2024 to January 2023, Dublin’s real estate market showed the following changes:

  • Homes Sold: Decreased by 18%, from 11 in January 2023 to 9 in January 2024.
  • Median Sale Price: Increased by 6%, from $1.35M in January 2023 to $1.43M in January 2024.
  • Days on Market (DOM): Saw a significant decrease, from 61 days in January 2023 to 15 days in January 2024.
  • Percentage of List Price Received: Improved from 96% in January 2023 to 102% in January 2024.
  • Months of Inventory: Decreased slightly from 0.9 in January 2023 to 0.7 in January 2024.
  • Average Dollar per Square Foot: Increased from $734 in January 2023 to $790 in January 2024.

Analysis

Year-over-year, the Dublin market has seen a decrease in the number of homes sold but an increase in sale prices and a faster sales cycle. This suggests a market where demand remains strong, driving up prices despite a lower volume of sales. The significant decrease in DOM and the increase in the percentage of list price received indicate a competitive market for sellers.

Price Points and Quadrants

The sales details for January 2024 in Dublin were analyzed by quadrants:

  • Top Quadrant: Median Sale Price: $1,490,000, Median DOM: 17, Avg. $/Sq.Ft.: $685.
  • Second Quadrant: Median Sale Price: $1,430,314, Median DOM: 8, Avg. $/Sq.Ft.: $750.
  • Third Quadrant: Median Sale Price: $1,299,500, Median DOM: 23, Avg. $/Sq.Ft.: $828.
  • Bottom Quadrant: Median Sale Price: $1,185,750, Median DOM: 40, Avg. $/Sq.Ft.: $933.

Analysis

The quadrant data reveals that while all segments of the market are active, the top and second quadrants are moving more quickly, indicating a strong market for sellers in these price ranges. The higher average dollar per square foot in the lower quadrants suggests that smaller, possibly more affordable homes are also in demand, albeit with longer selling times.

Conclusion

The Dublin real estate market in January 2024 showed a decrease in homes sold and a decrease in median sale prices compared to the previous month. However, the year-over-year comparison indicates a strong market with increased sale prices, a faster sales cycle, and sellers receiving a higher percentage of their asking price. The quadrant data provides valuable insights for both buyers and sellers, indicating active segments across the market.

Data provided by MLS Listings and is deemed reliable but not guaranteed.