**The half life of dopamine in the extracellular space is of the order of 200 milliseconds.**
Yavich,L. (2007) Site-Specific Role of Catechol-O-Methyltransferase in Dopamine Overflow within Prefrontal Cortex and Dorsal Striatum. J. Neurosci. 27:10196-10202
In Figure 1 of this paper the authors present values for the half-life (τ) of dopamine elimination from extracellular space in the caudate nucleus and prefrontal cortex of mice as:
caudate nucleus: 0.2 +/- 0.03 sec
prefrontal cortex: 1.92 +/- 0.22 sec
Apparently this is because dopamine is usually inactivated when the presynaptic cell takes it back up using the dopamine transporter, but in the prefrontal cortex uptake is instead via a lower affinity norepinephrine transporter on neighbouring neurones. Thus the value of 200 milliseconds seen in the caudate nucleus is probably more typical.