Inventory Watch – Growing

by | Jul 15, 2013 | Inventory | 1 comment

The active inventory of NSDCC detached homes for sale is starting to grow:

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
May 23
236
$397/sf
34
2,529sf
May 30
230
$391/sf
35
2,591sf
June 5
229
$393/sf
35
2,577sf
June 11
239
$390/sf
34
2,569sf
June 17
246
$389/sf
36
2,577sf
June 24
255
$397/sf
36
2,535sf
July 1
244
$401/sf
38
2,526sf
July 8
256
$398/sf
38
2,530sf
July 15
269
$403/sf
38
2,486sf

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
May 23
661
$814/sf
92
5,141sf
May 30
659
$805/sf
95
5,222sf
June 5
663
$794/sf
96
5,185sf
June 11
672
$779/sf
96
5,163sf
June 17
661
$787/sf
99
5,164sf
June 24
679
$791/sf
98
5,097sf
July 1
705
$785/sf
94
5,084sf
July 8
702
$779/sf
95
5,100sf
July 15
736
$776/sf
94
5,038sf

It is tempting to blame higher mortgage rates, but it could also be the usual seasonal slowdown as we close out the summer. Both Richard and I were involved in bidding wars this week, and there is no shortage of demand for the well-priced properties.

On May 30th, I started logging the number of new listings, and number of new pendings each week. It turns out that it was the last week of the frenzy, and we’re working our way into the more-normalized 2:1 ratio:

Weekly NSDCC New Listings and New Pendings

Week
New Listings
New Pendings
May 30
70
84
June 5
87
64
June 11
77
69
June 17
73
66
June 24
100
69
July 1
86
64
July 8
81
53
July 15
106
54

Unlike the end of last summer when we experienced an abnormal and shocking rise in sales and pricing during the presidential election, the rest of this year should quiet down.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
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1 Comment

  1. sdduuuude
    sdduuuude on July 17, 2013 at 12:38 am

    Might be interesting to look at this data in terms of inventory for houses 3000 sq. ft. – especially if you look at it from year-to-year.

    I know you are only looking back a couple of months and they are flat months so I’m not taking issue w/ the numbers.

    Just saying that the nature of a $1.2M house can change over time. Splitting the market by sq. ft. might be … interesting.

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