Vickie Nagy’s September Dublin Condo Report
If you think that finding a good resale condo or town home in Dublin, CA is hard, you may be right. The condo and town home real estate in Dublin remains very much a seller’s market. Dublin currently has less than three months of available inventory. While the total number of condos for sale stands at 63, 34 of them are brand new units offered by builders, leaving only 39 resales on the market.
Condos and town homes for sale in Dublin CA continue to sell quickly, many over asking price. Seven of the 22 (31.8%) condo and townhome sales went into contract within seven days of going on the market for sale. Twelve of the 22 (54.5%) resale condos sold at or above listing price in Dublin from August 12th to September 13th, according to the Multiple Listing Service (MLS).
Most of the last month’s condo and town home sales were distressed sales. Of the 22 resale units to close, 12 (54.5%) were short sales, 4 (18.2%) were bank-owned, 3 (13.6%) were resales, and 3 (13.6%) were new construction.
Buyer preferences continue to favor the newer condos. Of the units sold, 78% (18) were less than 10 years old. Also, 50% (9) of these newer condos sold at or above asking price. Based on the 22 resale units that closed from August 12th to July September 13th:
- One-bedroom, 2 units, $149,300 to $160,000
- Two-bedroom, 10 units, $135,000 to $399,000
- Three-bedroom, 10 units, $311,900 to $611,546
The 39 resale condos currently on the market in Dublin vary in size from one-bedroom units to three-bedroom units. Of these 39 units, 15 are short sales and 10 are bank owned homes. The prices range from $149,900 for an older one-bedroom, one-bathroom unit with a reported 805 sq ft of living space to $649,950 for a newer and heavily upgraded three-bedroom, three-and-a-half-bathroom home with a reported 2,372 square feet of living space.
Dublin currently has 10 bank-owned condos for sale and 15 short-sale condos. I have created an interactive map of all bank owned condos and an interactive map of all short sale condos for sale in Dublin. The listings on these pages are continually updated.
7:02 AM on September 27th, 2011
I am about to email to all city council members some hard facts of the effects to high end homes of over saturated multi unit housing in Dublin. I am talking to some area expert appraisers. Initial findings I got is that certain homes in the hundreds can sue the city for damages. If Promenade converts to even 15 to 1 density, Villages and Sonata residents has legal basis to sue for damages. This are from expert appraisers I know in the business. As long as 8.04 zoning ordinance does not get amended.
1:36 PM on September 27th, 2011
You mean Sorrento, not Sonata.
3:26 PM on September 27th, 2011
Yes.. Sorrento. Pardon for a central Dubliner mistake.
10:43 AM on October 4th, 2011
I am very excited to hopefully be a buyer of one of the condos for sale in Dubin sometime during this month or next.
I know that the Promenade and other issues have caused a huge decrease in the values of these homes. I am sad for those that bought in early and did not have promises fulfilled but I am also happy that it has brought pricing down to a level that I as a young professional can afford.
I have worked in Pleasanton for three years and during most of that time living in the Tri-Valley seemed to be a pipe dream. At this point though it is in reach.
I hope and think that Dublin has reached its bottom point and I see values going up from here. For my and the current residents sake I hope it is.
I am very excited to join your community and have already been trying to get involved with saving the Promenade and becoming knowledgeable about the various issues and topics in Dublin.