Dublin Real Estate – 5/30/08 Update
Dublin’s real estate market continued to rally this week with the average home sale price increasing another 7% to $562K. A robust 3 new homes (all Elan condos) and 7 existing homes were sold this past week, as well. Based on Dublin’s healthy sales volume and climbing average price, it appears that our local real estate market may have reached an equilibrium where supply is meeting demand.
For existing and prospective home buyers, here are a few bullish articles about real estate nationally and locally:
Happy Friday to everybody!
8:51 PM on May 31st, 2008
John, the Dublin Ranch Condo market is really picking up. I wrote an offer on a condo and was 1 of 4 bids last week. 5th I have been apart of in the last 3 months.
10:18 PM on May 31st, 2008
Great article, Tyler. It would be good to know the average age of the people currently on the market. Are they mostly retirees or young families? If they have kids, what age are the kids? Given the recent discussion on Around Dublin, my guess is that if the buyers have kids, the kids are not of high school age yet.
2:29 PM on June 1st, 2008
Generally I see young families as Dublin Ranch Condo buyers, but not always. The last few who purchased were A recently married couple, single late 20′s, retiree, newly married couple, Couple w/ 2 kids under 6, single late 20′s, Newly married w/ 1 year old. It ranges, but most people are starting out or scaling down in the Dublin Ranch Condos.
9:21 PM on June 1st, 2008
John,
any idea how many units are available at “The Terraces” and when they will release buildings 7 and 8?
Ovidiu
9:39 PM on June 1st, 2008
Hi Ovidiu – I’m really not sure how many units are left for sale in buildings 5 and 6. By looking at the parking in the westside parking garage, I’d guess that there are about 30-40 units left for sale. Based on this, The Terraces would probably need to sell another 10-20 units in building 6 before building 7 can be released (per the City of Dublin guidelines).
I believe that the Terraces would need to sell somewhere between 70% and 80% of the units in building 7 before building 8 could be released.
Again, I’m not familiar w/ the sales figures at the Terraces…these are just “best guesses”.
Thx, John Z.
9:49 PM on June 1st, 2008
Thanks for the detailed answer John. You have a great blog with a lot of interesting info for Dublin’s residents.