In the following graph you will see a familiar picture of the Bay Area Real estate market in Q1 2012. This graph shows inventory levels and the median sales price for single family detached homes in the city of Dublin. Inventory continues to drop while many buyers, who are taking advantage of amazing interest rates, continue to bid up homes with multiple offers. However, most of the sales are taking place for homes priced under $700k. We are still seeing a sluggish market for the higher price point homes. I expect to see inventory rise beginning in February with a large percentage of active listings being short sales. A word of advice for would be sellers is to not wait. Competition is low right now and what you don’t want is to compete for buyers against a bunch of short sales.
