The intensity of the frenzy is determined by inventory – which grew this week, signaling some slow down in the market:

The UNDER-$1,200,000 Market:

Date NSDCC Active Listings Avg. LP/sf DOM Avg SF
April 29
201
$384/sf
36
2,599sf
May 5
195
$381/sf
36
2,633sf
May 9
207
$387/sf
35
2,624sf
May 18
241
$397/sf
33
2,566sf

The OVER-$1,200,000 Market:

Date NSDCC Active Listings Avg. LP/sf DOM Avg SF
April 29
620
$806/sf
94
5,183sf
May 5
606
$806/sf
93
5,223sf
May 9
628
$808/sf
93
5,150sf
May 18
653
$807/sf
92
5,161sf

You can feel it on the street, but a slight slow down only means fewer offers in the bidding wars. We would need a few weeks of reversal before the momentum takes a hit.

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