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2016-01-13 14.51.26

The number of sales is a leading indicator, and a precursor of things to come. It’s doubtful that home sellers will get too concerned about a couple of data points, but it will be interesting to see if the trend of fewer sales continues:

NSDCC Houses Sold in February

Year
Under-$1,400,000
Over-$1,400,000
Total # of Houses Sold
2012
154
30
184
2013
144
44
188
2014
139
41
180
2015
111
59
170
2016
88
45
133

Up until this year, the mix seemed about right – fewer lower-end sales, and as prices climbed, more high-enders. But last month saw both totals drop – significantly.

There will be a few more late-reporters, but last month also had one additional business day so the 22% drop in sales year-over-year is noteworthy. The 45 sales over $1,400,000 doesn’t look too bad compared to years prior to 2015, but here’s the kicker – there are 660 of those houses for sale, or a 15-month supply!

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