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Are houses selling in the new year?  How hot is the start?

There isn’t any way to track the sales that fell out of escrow last year, we just have closed sales to count. But let’s compare last year’s closed sales to this year’s pendings, and figure that 10-25% will fall out:

NSDCC detached listings that were marked ‘Pending’ between Jan 1-22:

Year 0-$700K $701-$1.2 $1.2+ Total
2011
35
42
29
106
2012
56
53
33
142

If 25% of this year’s pendings fall out of escrow (142 – 25% = 106), we are right on track with last year – and it appears that each price range is fairly represented too, though there is a downward tilt, depending on which ones fall out. The under-$700,000 category is bulging!

No contingents were counted either (there are 148 contingents, but you have to count them individually – maybe I can get an assist on that today?), so I think we’re off to a good start.

This year’s list prices are averaging $379/sf, and last year’s solds closed at $358/sf.

 

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