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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
Dublin (Central)
Sold past 1-6 months (n=146) median (med) $1,217,500 Days on Market (DOM)=13
Sold past 7-12 months (n=162) med $1,293,750 DOM=6
This suggests a primary (year) change of -5.894%.
Sold past 1-3 months (n=70) med $1,077,500 DOM=16
Sold past 4-6 months (n=76) med $1,267,500 DOM=7
This suggests a secondary (quarter to quarter) change of -14.990%.
There are 28 current active listings ranging from $659,000 to $1,715,888 with median DOM at 29 days. Range 3 – 199.
There are 24 pending listings (in contract) ranging from $260,838 to $2,549,888 with median DOM at 36 days. Range 1 – 140 days.
So, what’s going on? The 9/23 review of Central Dublin suggested a primary increase of 5.625% and a secondary decrease of 13.514%. So, this is the most common pattern. The primary trend has turned negative, and the secondary negative trend has accelerated but we can call it stable due to only a marginal increase (to the negative). This market is still seeing the results of interest rates combined with seasonality. Again, we will have to look here in a month or so to make any real conclusions. I still believe we will see seasonality wain in the Spring and foster modest price increases. We will have to wait and see.
Where should we look next?
Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
Data is from EBRDMLS and includes the City of Dublin North of Hwy 580, South of the City of San Ramon, East of Hwy 680 and West of Camino Tassajara/Tassajara Rd, all MLS residential listings, effective as of 11/07/2022
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