Month-over-Month Changes

In December 2023, the Dublin real estate market experienced notable shifts compared to November 2023:

  • Homes Sold: There was a significant decrease, with 16 homes sold in December, down 30% from 23 sales in November.
  • Median Sale Price: The median sale price decreased by 5%, from $1,730,000 in November to $1,650,000 in December.
  • Days on Market (DOM): The DOM decreased, dropping to 8 days in December from 10 days in November.
  • Percentage of List Price Received: Sellers received on average 101% of their asking price, maintaining a strong seller’s market.

Analysis:

The Dublin market in December showed a cooling trend with fewer homes sold and a slight decrease in median sale price. However, the decrease in DOM and high percentage of list price received indicate continued demand and a competitive market.

Year-over-Year Comparison

Comparing December 2023 to December 2022, we observe the following:

  • Homes Sold: A decrease of 16%, from 19 homes sold in December 2022 to 16 in December 2023.
  • Median Sale Price: There was a significant increase, from $1.36M in December 2022 to $1.65M in December 2023.
  • Days on Market: A sharp decrease in DOM, from 26 days in December 2022 to 8 days in December 2023.
  • Percentage of List Price Received: Increased from 97% in December 2022 to 101% in December 2023.

Analysis:

Year-over-year data shows a tightening market with fewer homes sold but at higher prices and much quicker sales. This trend suggests a strong seller’s market with high demand and competitive pricing.

Price Points and Quadrants

The sales details for December 2023 were analyzed by quadrants:

  • Top Quadrant: 4 homes sold, Median Sale Price: $2,425,000, Median DOM: 8, Avg. $/Sq.Ft.: $678.
  • Second Quadrant: 4 homes sold, Median Sale Price: $1,690,000, Median DOM: 6, Avg. $/Sq.Ft.: $826.
  • Third Quadrant: 4 homes sold, Median Sale Price: $1,412,500, Median DOM: 23, Avg. $/Sq.Ft.: $689.
  • Bottom Quadrant: 4 homes sold, Median Sale Price: $1,220,000, Median DOM: 10, Avg. $/Sq.Ft.: $827.

Analysis:

The data indicates a balanced market across all quadrants, with each segment contributing evenly to the sales volume. The top and second quadrants show higher sale prices and quicker sales, reflecting strong demand in the higher-end market segments.

Conclusion

The Dublin real estate market in December 2023 demonstrated a decrease in the number of homes sold month-over-month but an increase in median sale prices year-over-year. The market dynamics indicate a strong seller’s market, with properties selling quickly and often above the asking price. The quadrant analysis provides insights into the diverse demand across different market segments, with high-end properties showing particular strength.

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