Month-over-Month Changes

In September 2023, the Dublin real estate market experienced some shifts compared to August 2023:

  • Homes Sold: 18 homes were sold, marking a 5% decrease from 19 sales the previous month.
  • Median Sale Price: Decreased by 17% from $2,100,000 in August 2023 to $1,752,500 in September 2023.
  • Days on Market (DOM): Increased to 10 days from 7 days in August 2023.
  • Percentage of List Price Received: Sellers received 103% of their asking price, down from 104% in August 2023.

Analysis

The month-over-month data indicates a slight contraction in the market. The decrease in homes sold and the rise in DOM suggest a tempering of demand. However, sellers are still receiving above their asking price, indicating a robust market.

Year-over-Year Comparison

Comparing September 2023 to September 2022, the following changes were observed:

  • Homes Sold: Decreased by 53%, from 38 to 18.
  • Homes Listed: Decreased by 29%, from 38 to 27.
  • Median Sale Price: Increased from $1.53M to $1.75M.
  • Median Days on Market: Decreased from 19 to 10.
  • Percentage of List Price Received: Increased from 99% to 103%.
  • Months of Inventory: Decreased from 1.3 to 0.7.

Analysis

Year-over-year, the market has seen a significant decrease in the number of homes sold and listed, but an increase in sale prices and a faster sales cycle. This suggests a seller’s market where inventory is tight, but demand is high enough to drive up prices.

Price Points and Quadrants

The sales details for September 2023 were broken down by quadrants:

  • Top Quadrant: 5 homes sold, Median Sale Price: $2,432,000, Median DOM: 8, Avg. $/Sq.Ft.: $704.
  • Second Quadrant: 5 homes sold, Median Sale Price: $2,150,000, Median DOM: 11, Avg. $/Sq.Ft.: $666.
  • Third Quadrant: 4 homes sold, Median Sale Price: $1,512,500, Median DOM: 25, Avg. $/Sq.Ft.: $719.
  • Bottom Quadrant: 4 homes sold, Median Sale Price: $1,292,500, Median DOM: 6, Avg. $/Sq.Ft.: $1,026.

Analysis

The data shows that all quadrants are active, but the top and second quadrants are seeing the most activity. This suggests that higher-priced homes are moving quickly, indicating a strong market for sellers in these price ranges.

Conclusion

The Dublin market in September 2023 showed a decrease in homes sold compared to the previous month and a significant decrease in homes listed year-over-year. The increase in median sale price year-over-year and the decrease in DOM indicate a strong market, particularly for sellers. The quadrant data provides valuable insights for both buyers and sellers, showing that higher-priced homes are particularly competitive.

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