The year 2015 wraps up tomorrow!

We saw last week that the annual count of NSDCC detached-home sales already exceeds the 2014 total.  By the time the sales from this week are recorded (and the late-reporters chime in) the 2015 sales will be about 5% higher than last year’s count – in spite of higher pricing!

Higher prices = more sales??

More sales = higher prices??

The additional action was made possible by more homes coming to market.

New-Listings Count – Annual, 2nd Half, and 4th Qtr:

Year
Annual # of Listings
# of Listings, 2H
# of Listings, 4Q
2011
5,223
2,117
915
2012
4,416
1,871
761
2013
4,817
2,027
726
2014
4,691
1,979
761
2015
4,878
2,114
817
Incr over 2014
+4.0%
+6.8%
+7.4%

All signs are pointing to the inventory increasing next year – will a larger selection of homes for sale inspire more buyers to buy?

If so, it means more sales – and a faster rate of appreciation if each sale is slightly higher than the last.

Or will a surge of over-priced listings cause the market to stagnate?  If there are more OPTs stacking up, it makes it more obvious to buyers that the prices are wrong.

I think 2016 will be the most interesting yet – especially if we get mortgage rates bumping up faster than expected!

Pin It on Pinterest