Surging sales and shrinking inventory reflect just how much the condo market is heating up in Dublin, CA. Many condos are receiving multiple offers. Of the 33 condos that sold in Dublin during March, a third closed at or over the asking price.

Five months of inventory is considered to be a balanced market.  Anything less than five months is considered a seller’s market, and more than five months of inventory is considered to be a buyers market.  Condo inventory level in Dublin stands at just 2.33 months. A total of 33 units sold last month with only 77 active listings. When the new home inventory is disregarded, the numbers take an astronomical jump. Of the currently listed condos, a total of 29 are new construction and 48 are resale. The inventory of just the resale condo market is 1.45 months.

What are selling? Just about everything is. The low selling price in March was $92,610 for a 1-bedroom, 1-bath unit with 669 square feet. The high selling price in March was $699,000 for a 3-bedroom and 3.5-bath condo with 2,370 square feet. Both of these homes sold at their asking prices.

The Cottages are luxury condos with a colonial exterior located in the beautiful Dublin Ranch Villages. Community amenities include a pool, a spa, and a clubhouse. Ranging from 1,320 square feet to 2,250 square feet of living space, these homes were completed between 2003 and 2005. The Cottages are centrally located and less than one mile from I-580. Within walking distance to Grafton Station and the Shops at Waterford, homes at the Cottages will soon have a Greatland Target like the one in San Ramon nearby.

Resales in the Cottages move quickly, averaging just 17 days on market. Many sell at or above asking price. Five homes have sold in the cottages so far this year. Selling prices range from a low of $340,000 for the Aberdeen floor plan (1,320 square feet) to $470,000 for the Kinsdale Elite (2,112 square feet).

Sales history for The Cottages for 2009, 2010