Yes, a little, and mostly in completed homes. Comparing each area with itself, the median price per sq ft of a ready home fell about 5% between the first and third quarters of 2026, and it fell in 27 of the 34 areas busy enough to measure. Off-plan prices barely moved area by area. Both are still close to where they were in September 2025.
The citywide figure tells the same story. The median across all homes was AED 1,679 per sq ft in September, 1.8% lower than in September 2025. That is a fall, but a small one.
What the monthly medians show
The citywide median moves more than the market does. Across all residential sales it went from AED 1,793 per sq ft in January to AED 1,679 in September, a 6.4% drop. Most of that is mix. Off-plan sales carry a higher price per sq ft, their share of sales swung between 68% and 79% during the year, and from May more of them came from cheaper areas.
Table: median AED per sq ft of residential sales by month, 2026 against the same month in 2025. Each 2026 median rests on more than 2,000 registered sales. Source: DLD registered sales, Peak Trust Research.
| Month | All homes 2026 | All homes 2025 | Ready 2026 | Ready 2025 | Off-plan 2026 | Off-plan 2025 | Off-plan share 2026 |
|---|---|---|---|---|---|---|---|
| January | 1,793 | 1,598 | 1,475 | 1,368 | 1,867 | 1,725 | 70.2% |
| February | 1,767 | 1,566 | 1,531 | 1,353 | 1,853 | 1,661 | 68.3% |
| March | 1,731 | 1,643 | 1,413 | 1,397 | 1,822 | 1,772 | 74.8% |
| April | 1,857 | 1,623 | 1,494 | 1,400 | 1,932 | 1,746 | 78.7% |
| May | 1,658 | 1,665 | 1,423 | 1,408 | 1,697 | 1,816 | 76.7% |
| June | 1,706 | 1,706 | 1,468 | 1,406 | 1,729 | 1,837 | 78.1% |
| July | 1,711 | 1,700 | 1,431 | 1,348 | 1,739 | 1,862 | 73.7% |
| August | 1,702 | 1,733 | 1,467 | 1,362 | 1,736 | 1,882 | 72.6% |
| September | 1,679 | 1,710 | 1,452 | 1,378 | 1,735 | 1,810 | 71.0% |
Two things surprised us. The ready-home median has sat above its 2025 level in every month this year: AED 1,452 in September against AED 1,378 a year earlier. And the off-plan median stepped down in May, and has stayed at about AED 1,730 to 1,740 ever since. Our note on off-plan's share from March to September looks at that step in detail.
Area by area: where ready prices eased
A citywide median can rise or fall because a different set of buildings happened to sell. Comparing each area with itself removes most of that noise. We took every area with at least 50 ready sales in both quarters and compared its median.
Table: median AED per sq ft of ready homes, the 14 Dubai areas with the most ready sales in Q3 2026. n = ready sales in Q3 2026. Source: DLD registered sales, Peak Trust Research.
| Area | n (Q3 2026) | Q3 2025 | Q1 2026 | Q3 2026 | Q1 to Q3 2026 | Q3 2025 to Q3 2026 |
|---|---|---|---|---|---|---|
| Jumeirah Village Circle | 1,200 | 1,241 | 1,390 | 1,252 | −9.9% | +0.9% |
| Business Bay | 811 | 1,900 | 2,036 | 1,866 | −8.3% | −1.8% |
| Dubai Marina | 692 | 1,868 | 2,197 | 2,117 | −3.6% | +13.3% |
| Meydan | 471 | 2,091 | 2,094 | 1,924 | −8.1% | −8.0% |
| Al Furjan | 444 | 1,296 | 1,235 | 1,093 | −11.5% | −15.7% |
| Downtown Dubai | 399 | 2,381 | 2,603 | 2,511 | −3.5% | +5.5% |
| Jumeirah Lakes Towers | 334 | 1,427 | 1,557 | 1,517 | −2.6% | +6.3% |
| International City | 317 | 681 | 723 | 681 | −5.8% | 0.0% |
| Arjan | 286 | 1,271 | 1,327 | 1,353 | +2.0% | +6.5% |
| Dubai Silicon Oasis | 286 | 916 | 965 | 978 | +1.3% | +6.8% |
| Dubai Hills Estate | 285 | 2,193 | 2,362 | 2,180 | −7.7% | −0.6% |
| Wadi Al Safa 5 | 280 | 967 | 1,049 | 1,175 | +12.0% | +21.5% |
| Dubai Sports City | 276 | 931 | 1,032 | 1,001 | −3.0% | +7.5% |
| Dubai Creek Harbour | 244 | 2,330 | 2,429 | 2,244 | −7.6% | −3.7% |
Across all 34 areas, the median move from Q1 to Q3 2026 was −5.4%. From Q3 2025 to Q3 2026 it was +0.5%. In plain terms, ready prices climbed into the start of 2026 and have since given most of that back. JVC shows it best: AED 1,241 a year ago, AED 1,390 in Q1, AED 1,252 now. Al Furjan is the weak spot among the big areas, and the only one in the table more than 10% below last year.
Off-plan went its own way. In the 46 areas with enough off-plan sales in both quarters, the median change was −0.4%, with 21 areas up, 24 down and one unchanged.
Why ready and off-plan prices moved differently
A ready home is sold by its owner, who can cut the price to get a deal done, and the registered price shows that straight away. An off-plan unit is sold from the developer's published price list. Developers tend to hold those lists, so a softer market shows up first as slower sales, or as new phases launched at different sizes and in different places. That is why off-plan medians within each area barely moved while ready prices gave back their early-2026 gains.
What it means for investors
- Completed homes are where prices have moved. In busy areas such as JVC, Business Bay and Dubai Hills Estate, sellers have been accepting less than in Q1. Check the area's recorded price per sq ft before you agree a figure.
- Don't read the citywide off-plan median on its own. Its 7% slide since January reflects where sales happened, not cuts on comparable units.
- A year-on-year figure depends on its starting point. Against Q3 2025, most areas are level; against Q1 2026, most are lower. Quote both.
- When prices pause, the rent does more of the work. Our Rent & Yield Monitor for September 2026 covers the income side, and /analytics/price-growth has the five-year view by area.
For context on your own holding or purchase, see how we work with investors. The full quarter is in the Q3 2026 market review.