I don't think there is any canon info, but there are any number of magical distance observation methods he could have used:
The alarm spell around Potter house (similar to the one that triggered near Hog's Head in DH when the trio arrived there).
Watching from a portrait/photograph of himself at Potter's house (or other means - remember Sirius' mirror that he gave Harry to talk to him)
Having a dead wizard portrait serve as observer
Having some other alarm spell (e.g. something that monitors Potters' heartbeats).
Instantaneous communication is something normal for Potterverse (Dark Mark, Hermione's DA tokens, portraits, etc...). So are tripwire/alarm spells of all kinds.
Remember that Dumbledore was one of the most advanced wizards of his time, and was able to do extremely fancy magic, so combining SOME alarm/tripwire spell with a communication charm would have been easily within his capability.
And given the importance of the house/family (post-Prophecy), it's almost certain he'd have set something like that, especially being a paranoid nutcase diligent well-prepared-in-advance fellow that he was.
ETA: 09.01.12
SU: How did Dumbledore find out about what happened in Godric's Hollow?
MA:And what happened? There's this whole twenty four hours that people have been fantasizing about for years.
JKR: Yeah, I know. I've got a bit of problem with this myself, because every time I think it straight in my head I go back and look at what the fans are theorizing about, and I think "Yeah, maybe they've got a point." Dumbledore- Well there's an easy answer to how would Dumbledore know. Because you can- He? (laughs) You can. One can.
[SNIP]
Yeah, so okay. Obviously Dumbledore could cast a spell on a dwelling that would immediately alert him if something happened to it. So he could know instantaneously. That's not a problem at all. And then he could dispatch Hagrid and so on. I think The Scottish Book will have to answer that question. I'm gonna have to really go back through notes and either admit that I lost twenty four hours or I don't know, hurriedly come up with some back story to fill in. Either way, you either get to be right, or you get more story. So you can't complain.
[POTTERCAST - 12.23.07 - THE LEAKY CAULDRON]