Inventory Watch

by | Apr 16, 2018 | Inventory, Jim's Take on the Market | 3 comments

The numbers of pendings is dropping, and we’re behind recent years when looking at the number of new pendings for the last week of March and first three weeks of April:

NSDCC Last Four Weeks

Year
Total Number of New Listings
Total Number of New Pendings
2015
365
277
2016
400
292
2017
381
282
2018
390
233

You can’t blame it on the lack of inventory – we’re having just as many listings to consider as we’ve had in recent years. But the new-pending count is 18% below the average for the last three years. Price will fix everything wrong here!


The UNDER-$1,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 1
36
$477/sf
51
58
Jan 8
35
$479/sf
42
56
Jan 15
39
$469/sf
37
53
Jan 22
37
$453/sf
42
62
Jan 29
38
$459/sf
35
64
Feb 5
41
$463/sf
26
69
Feb 12
39
$461/sf
20
73
Feb 19
42
$456/sf
20
72
Feb 26
53
$451/sf
20
81
Mar 5
47
$457/sf
24
79
Mar 12
60
$434/sf
19
87
Mar 19
67
$478/sf
21
81
Mar 26
61
$477/sf
23
86
Apr 2
50
$464/sf
24
95
Apr 9
56
$471/sf
23
93
Apr 16
61
$464/sf
24
93

The $1,000,000 – $1,500,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 1
91
$532/sf
72
68
Jan 8
99
$551/sf
64
64
Jan 15
96
$535/sf
61
75
Jan 22
107
$515/sf
63
82
Jan 29
108
$512/sf
57
91
Feb 5
110
$518/sf
49
100
Feb 12
117
$487/sf
46
106
Feb 19
107
$500/sf
45
114
Feb 26
112
$485/sf
46
117
Mar 5
111
$496/sf
45
115
Mar 12
126
$475/sf
43
109
Mar 19
125
$487/sf
47
129
Mar 26
133
$484/sf
47
124
Apr 2
139
$495/sf
47
121
Apr 9
148
$485/sf
51
119
Apr 16
145
$474/sf
45
114

The $1,500,000 – $2,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 1
84
$612/sf
86
40
Jan 8
98
$612/sf
73
42
Jan 15
98
$607/sf
73
42
Jan 22
111
$589/sf
63
42
Jan 29
120
$577/sf
61
45
Feb 5
114
$586/sf
56
51
Feb 12
118
$566/sf
52
57
Feb 19
121
$596/sf
53
64
Feb 26
122
$596/sf
53
64
Mar 5
125
$593/sf
56
70
Mar 12
131
$602/sf
53
67
Mar 19
120
$598/sf
58
74
Mar 26
121
$596/sf
57
75
Apr 2
128
$593/sf
55
70
Apr 9
140
$612/sf
54
66
Apr 16
146
$617/sf
50
67

The $2,000,000+ Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 1
341
$1,021/sf
127
56
Jan 8
356
$1,007/sf
123
49
Jan 15
370
$991/sf
115
48
Jan 22
375
$992/sf
110
47
Jan 29
384
$1,005/sf
109
56
Feb 5
387
$1,005/sf
111
56
Feb 12
379
$1,004/sf
107
63
Feb 19
399
$990/sf
104
69
Feb 26
400
$990/sf
101
75
Mar 5
398
$1,022/sf
97
79
Mar 12
406
$1,017/sf
99
89
Mar 19
430
$1,020/sf
97
79
Mar 26
455
$0/sf
92
71
Apr 2
453
$0/sf
94
67
Apr 9
462
$0/sf
94
66
Apr 16
473
$0/sf
95
66

Weekly NSDCC New Listings and New Pendings

Week
New Listings
New Pendings
Total 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
July 22
105
89
July 29
71
74
Aug 5
105
64
Aug 12
77
61
Aug 19
88
73
Aug 26
87
77
Sep 2
76
55
Sep 9
85
58
Sep 16
102
61
Sep 23
84
54
Sep 30
73
80
Oct 7
80
61
Oct 14
78
53
Oct 21
70
63
Oct 28
54
40
Nov 4
63
53
Nov 11
49
64
Nov 18
52
44
Nov 25
48
40
Dec 2
25
34
Dec 9
45
47
Dec 16
56
46
Dec 23
21
39
Dec 30
14
23
Jan 6
63
25
Jan 13
75
44
Jan 20
98
51
Jan 27
71
56
Feb 3
74
63
Feb 10
95
59
Feb 17
81
76
Feb 24
80
70
Mar 3
88
71
Mar 10
98
54
Mar 17
87
65
Mar 24
89
76
Mar 31
77
57
April 7
98
61
April 14
108
72
April 21
87
62
April 28
122
73
May 5
144
67
May 12
96
85
May 19
87
61
May 26
97
72
Jun 2
90
59
Jun 9
108
52
Jun 16
103
65
Jun 23
131
62
Jun 30
85
70
July 7
83
59
July 14
100
62
July 21
112
75
July 28
113
62
Aug 4
84
48
Aug 11
95
62
Aug 18
83
54
Aug 25
72
54
Sep 1
71
60
Sep 8
81
57
Sep 15
80
49
Sep 22
77
49
Sep 29
79
51
Oct 6
78
54
Oct 13
73
54
Oct 20
70
64
Oct 27
55
54
Nov 3
60
45
Nov 10
72
63
Nov 17
57
65
Nov 24
56
41
Dec 1
41
37
Dec 8
46
30
Dec 15
31
34
Dec 22
30
31
Dec 29
15
25
Jan 5
36
25
Jan 12
85
40
Jan 19
78
48
Jan 26
74
50
Feb 2
77
43
Feb 9
106
68
Feb 16
81
67
Feb 23
86
63
Mar 2
83
64
Mar 9
99
68
Mar 16
93
76
Mar 23
101
84
Mar 30
89
81
Apr 6
80
58
Apr 13
95
68
Apr 20
101
70
Apr 27
77
69
May 4
112
74
May 11
100
67
May 18
109
80
May 25
91
69
June 1
91
70
June 8
107
90
June 15
99
67
June 22
107
62
June 29
100
74
July 6
91
62
July 13
126
58
July 20
93
62
July 27
83
74
Aug 3
90
56
Aug 10
93
57
Aug 17
85
60
Aug 24
73
60
Aug 31
82
54
Sep 7
87
59
Sep 14
80
51
Sep 21
74
48
Sep 28
76
53
Oct 5
83
53
Oct 12
63
54
Oct 19
67
45
Oct 26
62
50
Nov 2
77
60
Nov 9
74
54
Nov 16
70
56
Nov 23
72
49
Nov 30
35
42
Dec 7
57
42
Dec 14
53
41
Dec 21
51
30
Dec 28
15
25
Jan 4
38
22
Jan 11
84
43
Jan 18
96
33
Jan 25
102
42
Feb 1
87
46
Feb 8
88
55
Feb 15
102
71
Feb 22
100
52
Feb 29
80
72
March 7
123
52
March 14
101
75
March 21
90
75
March 28
94
64
April 4
112
72
April 11
95
75
April 18
99
81
April 25
105
72
May 2
115
65
May 9
100
76
May 16
113
70
May 23
110
75
May 30
102
83
Jun 6
91
68
Jun 13
104
58
Jun 20
111
62
Jun 27
109
69
Jul 4
99
59
Jul 11
73
43
Jul 18
119
61
Jul 25
108
68
Aug 1
92
68
Aug 8
103
63
Aug 15
77
65
Aug 22
80
66
Aug 29
76
75
Sept 5
89
67
Sept 12
98
60
Sept 19
95
69
Sept 26
76
68
Oct 3
78
69
Oct 10
75
46
Oct 17
92
60
Oct 24
79
50
Oct 31
59
54
Nov 7
65
44
Nov 14
75
45
Nov 21
63
52
Nov 28
31
34
Dec 5
86
47
Dec 12
46
41
Dec 19
45
58
Dec 26
21
26
Jan 2
35
22
Jan 9
73
38
Jan 16
98
46
Jan 23
74
59
Jan 30
65
43
Feb 6
101
55
Feb 13
89
55
Feb 20
92
57
Feb 27
66
73
Mar 6
102
66
Mar 13
99
59
Mar 20
93
82
Mar 27
82
60
Apr 3
104
70
Apr 10
96
83
Apr 17
99
69
Apr 24
106
68
May 1
111
88
May 8
96
94
May 15
93
80
May 22
104
60
May 29
112
93
Jun 5
100
71
Jun 12
98
71
Jun 19
81
60
Jun 26
86
48
Jul 3
88
65
Jul 10
80
55
Jul 17
109
64
Jul 24
86
61
Jul 31
90
75
Aug 7
99
71
Aug 14
76
65
Aug 21
83
62
Aug 28
96
60
Sept 4
74
71
Sept 11
81
42
Sept 18
77
47
Sept 25
67
59
Oct 2
71
61
Oct 9
96
63
Oct 16
72
51
Oct 23
64
42
Oct 30
55
43
Nov 6
84
49
Nov 13
81
39
Nov 20
46
60
Nov 27
23
37
Dec 4
45
39
Dec 11
49
41
Dec 18
30
47
Dec 25
21
22
Jan 1
18
15
Jan 8
89
31
Jan 15
87
43
Jan 22
87
43
Jan 29
81
48
244
Feb 5
77
53
262
Feb 12
74
53
280
Feb 19
89
55
295
Feb 26
87
57
318
Mar 5
84
62
328
Mar 12
107
61
339
Mar 19
88
59
350
Mar 26
99
55
347
Apr 2
87
66
346
Apr 9
106
58
336
Apr 16
98
54
331

3 Comments

  1. Rob_Dawg
    Rob_Dawg on April 16, 2018 at 11:02 am

    I suspect escrow streamlining is contributing to fewer pendings. A combination of technology and competition make for faster closings.

  2. Jim the Realtor
    Jim the Realtor on April 16, 2018 at 11:19 am

    A combination of technology and competition make for faster closings.

    I think they are closing faster, but we’re closing fewer. Closed NSDCC sales in 1Q18 was down 6% compared to last year.

    Let’s see how it goes over the next two weeks. We’ll be past tax day and have no reason not to be selling the same number of houses as last year….unless the pricing is wrong.

  3. Rob
    Rob on April 16, 2018 at 2:51 pm

    Can you do an article on the housing affordability index related to NSDCC?

    Just wondering what percentage of people need x amount of dollars with 20% down to afford a median priced home?

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