Dublin California Real Estate and Community

                                     Will it be a Happy New Year
Now that the holidays are over, focus for many homeowners is how much, if any, equity will be gained in 2014. We are starting off this year as we ended last summer with little inventory. Home prices rose continually last year and so did the number of sold transaction. This follows a trend that we have had for a few years now. If that continues, prices will certainly rise and more people will buy and sell homes. Take a look at the following data:

Year       # of Sold Homes                    Highest Sale                 Lowest Sale     Avg. Price     Median Price
2010                600                                    $1,210,000                      $120,000             $534,960          $487,000
2011                662                                    $2,600,000*                    $92,610               $482,960          $410,000
2012                715                                    $1,400,000                     $120,000              $520,586          $470,000
2013                740                                    $1,850,000                     $199,000              $643,340          $580,944
*property included 12 acres.

Note that Dublin has been undergoing a new construction boom for a number of years now and that is a contributing factor to the rise of the average and median prices.
Although interest rates are expected to rise by the end of the year, there are plenty of Buyers that were unable to obtain housing last year and that may cause a jump in prices in the beginning of this year. That being said, what I see so far this year is conservative listing prices to bring Buyers in.
I have already spoken to a few of you so I know there will be more to come. I think that as the year goes on, the supply will increase closer to demand and prices will stabilize from whatever movement they make at the beginning of this year.

As of January 13, 2014, there were 58 total units (detached homes, condominiums, and townhomes) available for sale in the Dublin market. Twenty seven of those total listings are either condos or townhomes. There are still 73 homes pending and the inventory is at 1.07 months.

                           Population Boom Ranks Alameda County #1
Back in December, a report was released by the California Department of Finance that stated that between July 1, 2012 and July 1, 2013, the population in California increased 332,000, a growth rate of .9%. This is the highest growth rate since 2003-2004. During that same time, Alameda County lead all other counties in population growth AND net migration with an addition of 15,000 new residences. Within Alameda County, Dublin, Fremont, Hayward, and Oakland are the cities that lead in population growth. In a memo released by the East Bay Economic Development Alliance (East Bay ADA) much of the increase in these cities was attributed to more affordable housing and the communities being built around the BART/transit stations.

I went back and looked at some census figures and found that the Dublin Population in 2010 was 37,253 and had an estimated population in 2012 of 48,775. From April 1, 2010 to July 1, 2012 that was a 5.9% increase. Other cities in also showed increases (Fremont 3.7% Livermore 3.2% Oakland 2.6% Hayward 3.5% Pleasanton 2.9% ), but Dublin is certainly leading the way and has been for a number of years. I personally believe that this is mostly contributed by all of the new construction that has been going on for the past decade.

To see the census data, click on the link here.