Dublin Exceeded Expectation in 2023!

Single Family Detached Homes in Dublin – Exceeded Expectations in 2023

Taking a look back at 2023 home sales in Dublin tells a unique story of what happened in Dublin California.  While all the experts were saying that home prices were falling because of the higher interest rates, Dublin defied the expectations!  The Average Home Sold Price in 2023 exceeded the Average Home Sold Price in 2022 by 1.15%.  While this number might seem tiny, it is significant because Dublin out performed San Ramon, Pleasanton and Danville!

Lowest # of Homes Sold in 2023

Dublin had the least number of single-family homes sold (284) in 2023 compared to the last 11 years of home sales in Dublin.  In 2022 there were 401 homes sold and in 2021 there were 568 homes sold.  So due the low inventory, home prices remained stable and actually increased in value.  It was close to a 30% reduction in the number of homes sold compared to 2022.

March, April, May and June saw the highest number of homes sold in 2023, with June being the highest at 40 homes sold.  Dublin ended the year with an average day on the market of 16 days for 2023, which is better than the days on the market for 2022 at 17 days.  The lowest average days on market in 2023 was 8 days and January 2023 was at an average of 69 days on the market.

10 Months Exceeding the Average List Price

So, while it was a stable market, I noticed that Dublin only had 2 months in 2023 where the average list price was higher than the average sold price.  Dublin had 10 months where the sold price was higher than the list price.  July had the highest over list price average at $116,127 and November had the lowest at $17,687.  Dublin ended the year with $43,357 over list price for homes sold in 2023.

2024 is Starting Off HOT in Dublin!!

What’s going to happen in 2024?  I get that question a lot and here’s what I know.  We are only two weeks into the New Year and it’s already an increasing market in Dublin!  We have a listing that went on the market on Monday, January 8^th.  On Wednesday, January 10^th, it went off the market.  We received multiple offers and the property went Pending!  2 Days – that’s how long it was on the market!  We haven’t seen this type of activity in quite a while. 

I’m predicting that the market will be stable and home values will increase in Dublin.  Buyers who were waiting for home prices to decrease and to find a home under valued missed their opportunity from October 2022 to January 2023.  The market took a brief dip during those months, but then steadily increased starting in February 2023.  While I don’t know how much home values will increase, Dublin has shown year after year growth in home values and homes have increase 107.828% from 2013 to 2023.  That’s a significant increase!

Sellers - It's Time to Capitalize on Low Inventory

If you are thinking of selling your home in Dublin, make your plans early to capitalize on the low inventory!  I’m predicting that January to October will be the most favorable months to sell.  I believe we will see the standard seasonal slow down in November and December, especially since 2024 is an election year.  Make your plans to sell early in the year to capitalize on the low inventory and motivated buyers!  Give me a call or send me a message to chat about how I can help you sell your home in 2024, I can give you the inside information on my recent Dublin home listing.

How Did San Ramon Perform in 2023?  Click Here to read my Blog post on the San Ramon Real Estate Market in 2023.

Also, be sure to check out how Danville & Pleasanton did in 2023 !