Month-over-Month Changes

In February 2024, the Dublin real estate market exhibited significant growth and dynamism when compared to January 2024:

  • Homes Sold: There was an impressive increase in sales volume, with 17 homes sold, marking an 89% jump from 9 sales in January 2024.
  • Median Sale Price: The median sale price experienced a notable rise, showing a 14% increase from $1,428,628 in January to $1,630,000 in February 2024.
  • Days on Market (DOM): The time homes spent on the market saw a considerable decrease, dropping to 8 days in February from 15 days in January 2024.
  • Percentage of List Price Received: Sellers received a more favorable share of their asking price, averaging 105% in February, up from 102% in January, highlighting strong buyer competition.

Analysis

The month-over-month analysis for Dublin in February 2024 indicates a market that is rapidly heating up. The significant uptick in homes sold and median sale price, coupled with quicker sales and sellers receiving a higher percentage of their asking price, points to a robust and competitive market environment, likely fueled by attractive home features and strong demand.

Year-over-Year Comparison

Comparing February 2024 to February 2023, Dublin’s real estate market has shown substantial growth:

  • Homes Sold: Experienced a 13% increase, from 15 in February 2023 to 17 in February 2024.
  • Median Sale Price: Saw a 15% rise, from $1.42M in February 2023 to $1.63M in February 2024.
  • Days on Market (DOM): Remained stable at 8 days, showing consistent selling speed year-over-year.
  • Percentage of List Price Received: Improved slightly from 104% in February 2023 to 105% in February 2024, indicating a consistently strong seller’s market.
  • Months of Inventory: Decreased marginally from 0.7 in February 2023 to 0.6 in February 2024, suggesting tighter market conditions.

Analysis

Year-over-year, Dublin’s market has strengthened, with increased sales volume and rising median sale prices. The stable DOM and slight improvement in the percentage of list price received reflect a market that maintains its competitive edge, with conditions favoring sellers due to continued high demand and slightly tighter inventory.

Price Points and Quadrants

The sales details for February 2024, broken down by quadrants, offer insights into market activity across different segments:

  • Top Quadrant: 5 homes sold, Median Sale Price: $2,100,000, Median DOM: 14, Avg. $/Sq.Ft.: $686.
  • Second Quadrant: 4 homes sold, Median Sale Price: $1,686,500, Median DOM: 7, Avg. $/Sq.Ft.: $744.
  • Third Quadrant: 4 homes sold, Median Sale Price: $1,485,000, Median DOM: 8, Avg. $/Sq.Ft.: $627.
  • Bottom Quadrant: 4 homes sold, Median Sale Price: $1,245,000, Median DOM: 7, Avg. $/Sq.Ft.: $972.

Analysis

The quadrant analysis reveals a well-distributed market, with activity across all price points. The top quadrant sees the highest sale prices but also longer DOM, suggesting a market that is active even at higher price points. The consistent sales across the quadrants indicate healthy demand across various market segments, from luxury to more affordable options.

Conclusion

Dublin’s real estate market in February 2024 showed significant month-over-month growth and solid year-over-year improvements. The market dynamics indicate a strong demand, reflected in increased sales volume, rising median sale prices, and fast-moving inventory. The balanced activity across different price quadrants highlights a diverse appeal to buyers across the spectrum. As we move into March 2024, Dublin remains a vibrant and competitive market, offering opportunities for both buyers and sellers.

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