Inventory Watch

by | Jun 4, 2018 | Inventory, Jim's Take on the Market, Month's Supply, Sales and Price Check

Thanks to Daytrip who sent in this article which has a few different opinions on market conditions, and demonstrates the numerous variables in the housing equation.  This excerpt from a New York appraiser by trade:

The outcome is that high-end listings languish for longer periods of time—until sellers come down in price. But an uptick in transactions as sellers offer discounts to buyers does not necessarily indicate that a market is improving. Rather, this can be seen as evidence that buyers have been patient and sellers are now pricing their homes more realistically.

Here is a reminder of the differences based on price – the number of months’ worth of inventory, which used to be considered normal when around six:

Price Range
NSDCC Actives
2018 Avg Sales per Mo.
# of Months’ of Inventory
$0-$1M
80
62
1.3 months
$1M-$1.5M
189
77
2.5 months
$1.5M-$2M
149
39
3.8 months
$2M+
488
47
10.4 months

The 1.3 months’ worth of inventory on the lower end looks red-hot, and the 10.4 months on the high-end looks sluggish – and all in the same area!

Price will fix anything!

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
Apr 23
59
$459/sf
25
96
Apr 30
61
$466/sf
27
95
May 7
67
$472/sf
20
89
May 14
66
$480/sf
21
95
May 21
81
$474/sf
21
85
May 28
83
$438/sf
24
91
Jun 4
80
$442/sf
27
97

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
Apr 23
162
$470/sf
43
117
Apr 30
162
$486/sf
42
121
May 7
180
$495/sf
40
117
May 14
182
$491/sf
41
127
May 21
184
$475/sf
40
135
May 28
188
$473/sf
40
139
Jun 4
189
$469/sf
43
148

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
Apr 23
149
$616/sf
53
78
Apr 30
152
$605/sf
60
81
May 7
157
$618/sf
63
85
May 14
158
$614/sf
63
87
May 21
154
$637/sf
54
82
May 28
146
$633/sf
58
80
Jun 4
149
$614/sf
54
76

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
Apr 23
482
$0/sf
95
70
Apr 30
476
$0/sf
94
74
May 7
486
$0/sf
92
72
May 14
493
$0/sf
91
84
May 21
510
$0/sf
92
79
May 28
504
$0/sf
95
90
Jun 4
488
$0/sf
94
102

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
Apr 23
108
67
353
Apr 30
98
70
362
May 7
138
68
355
May 14
99
78
386
May 21
115
63
369
May 28
92
84
387
Jun 4
91
77
410
author avatar
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!
See Full Bio

Pin It on Pinterest