A good week for NSDCC sellers – there were 70 new listings inputted since 5/23/13, and 84 new pendings! Sixty-three percent of the new listings, and 73% of the new pendings were under $1,200,000.
The UNDER-$1,200,000 Market:
| Date | ||||
| April 29 | ||||
| May 5 | ||||
| May 9 | ||||
| May 18 | ||||
| May 23 | ||||
| May 30 |
The OVER-$1,200,000 Market:
| Date | ||||
| April 29 | ||||
| May 5 | ||||
| May 9 | ||||
| May 18 | ||||
| May 23 | ||||
| May 30 |
The last month has been range-bound. Unless there is a significant breakout from these levels, there won’t be any real relief for buyers!
Well the mortgage interest rates have sky rocketed during May (3.5 to 4.0), so that probably makes it even worse for buyers. I’m sure they will be a panic phase for buyers but after that maybe we’ll actually start seeing some weakness in the bidding wars. Should be an interesting summer and fall.
Not sure of the definition of ‘sky rocketed’, but buyers and sellers aren’t paying that close attention.