Month-over-Month Changes

In April 2024, the Dublin real estate market exhibited notable adjustments compared to March 2024:

  • Homes Sold: 34 homes were sold, marking a 42% increase from 24 sales the previous month.
  • Median Sale Price: There was a decrease of 9% from $1,865,000 in March 2024 to $1,697,500 in April 2024.
  • Days on Market (DOM): Rose slightly to 7 days in April from 6 days in March.
  • Percentage of List Price Received: Sellers received 110% of their asking price, an improvement from 107% in March.

Analysis

The month-over-month figures show an active market with increased sales and a high percentage of list price received, indicating a competitive market. However, the decrease in median sale price could suggest some adjustments in buyer pricing expectations or variations in the types of homes sold.

Year-over-Year Comparison

Comparing April 2024 to April 2023, the Dublin market showed significant changes:

  • Homes Sold: Increased by 6% from 32 homes sold in April 2023 to 34 in April 2024.
  • Median Sale Price: Grew from $1.54 million in April 2023 to $1.70 million in April 2024, showing a robust appreciation in property values.
  • Median Days on Market: Remained stable at 7 days.
  • Percentage of List Price Received: Improved from 103% in April 2023 to 110% in April 2024.
  • Months of Inventory: Reduced from 0.5 in April 2023 to 0.8 in April 2024, indicating a faster-moving market despite a slight increase in inventory.

Analysis

The year-over-year data reveals a strengthening market with an uptrend in home prices and sellers receiving more than their asking price, signaling strong buyer demand and competitive bidding.

Price Points and Quadrants

The sales data from April 2024 was analyzed by quadrants, showing diverse activity across different market segments:

  • Top Quadrant: 9 homes sold, Median Sale Price: $2,115,000, Median DOM: 9, Avg. $/Sq.Ft.: $758.
  • Second Quadrant: 9 homes sold, Median Sale Price: $1,840,000, Median DOM: 9, Avg. $/Sq.Ft.: $756.
  • Third Quadrant: 8 homes sold, Median Sale Price: $1,537,500, Median DOM: 7, Avg. $/Sq.Ft.: $920.
  • Bottom Quadrant: 8 homes sold, Median Sale Price: $1,337,500, Median DOM: 9, Avg. $/Sq.Ft.: $952.

Analysis

All quadrants show robust activity, with the top quadrant leading in terms of sale price but not necessarily in price per square foot. The higher DOM in the top quadrant suggests a slight resistance at higher price points, whereas lower quadrants show quicker movements, indicating a strong market across various price segments.

Conclusion

Dublin’s real estate market in April 2024 demonstrated significant vitality, with an increase in homes sold month-over-month and year-over-year, coupled with a rise in median sale prices. The stable DOM and high percentages of list price received illustrate continued buyer enthusiasm. While the market shows varying dynamics across different price quadrants, the overall data underscores a highly competitive environment favorable to sellers, offering valuable opportunities for both buyers and sellers.

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