Dublin Real Estate – 4/18/08 Update
Dublin’s average home sale price dipped to $514K this past week compared to $603K last week. However, the number of homes sold increased to 7 this week vs. 4 last week. The dip in average price can primarily be attributed to the sale of 3 new townhomes (2 at Elan and 1 at Silvera Ranch).
On the whole, Dublin’s home prices have held up well considering how difficult it has been over the past few months to obtain financing from banks in the current housing market. While the conforming loan limit in the Bay Area has officially been bumped up to over $700K, many banks are still treating loans in the $500K-$600K range as jumbo loans and charging higher interest rates (compared to loans under the nationwide “conforming” cap of $417K). Once banks start lending a bit more freely, home prices should start to increase on a more consistent basis.
7:04 AM on April 19th, 2008
Does toll brothers ever post sales? I was curious as to how well sorrento and the terraces are still selling. It seems as though the terraces has stopped construction on the last 2 buildings because of slow sales probably.
7:28 AM on April 19th, 2008
Hello Anonymous – Toll Brothers hasn’t posted their sales in Dublin for about the past year or so. However, they do continue to sell units at Sorrento and the Terraces. Construction on the last 2 buildings of the Terraces has been deferred for the foreseeable future until Toll is able to reach a certain threshold of sales in the 6th building at the Terraces.