The Dublin market overall is up 17.7% from the same period last year. Newer homes, however, built after 2010, are up 28.2%.
No one knows where we will be in another 6 months, however, many are saying that the market is beginning to slow. Interestingly, it was beginning to slow BEFORE rates started going up, so it's possible that any short-term (the immediate reaction whenever rates increase) may be hidden in a declining market.
Here is a post that may be helpful:
Summer Heats Up; Market Cools Down
What are your thoughts on the prices with sales falling?
Thanks "Hopeful_buyer" and Daniel for sharing.
I will leave it at this and I'll check back in 3 to 4 months! We'll see the effect of the rates on home prices and recent transactions. Thanks again for the valuable inputs!
Regarding your question on whether this 2600 sq ft worth the price, no one can answer this except you (and other buyers). I would compare with other similar houses and also assess what's your alternatives if you don't buy now. Let us know if you have more questions!
"What's the market trend in the last few weeks with rates going up?"
I don't know if a few weeks is enough time to identify a trend; however, here's the 2012/2013 Mid-Year Real Estate "Weather Report" (Alameda and Contra Costa counties) from the Bay East Association of REALTORSÂ®:
"As early as this year, the same houses were only selling in 680K to 720K range."
I believe the video above provides why!