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Last month, the NSDCC sales ended up being down 42% year-over-year, and the average cost-per-sf was down too by almost 6%. But the median sales price was up a tick.

The stats this month will suffer by having two fewer business days, which will cost us about 25 sales – but that won’t affect the price comparisons much.

NSDCC May Sales & Pricing – Preliminary

Year
# of Sales
Avg $$/sf
Median SP
Median $$/sf
2016
334
$498/sf
$1,216,250
$415/sf
2017
346
$515/sf
$1,222,500
$431/sf
2018
274
$591/sf
$1,325,000
$480/sf
2019
296
$598/sf
$1,365,000
$501/sf
2020
112
$564/sf
$1,363,250
$482/sf

Let’s estimate the final number of sales by adding 47 to the count above – that’s how many closed in the last two days of May, 2019.

Adding the 47 to the 112 +10% for others not reported yet equals roughly 175 sales for this month, which is another 41% drop from the previous year.

The median sales price won’t change much in the final tally, and the $$/sf might move a couple of bucks in either direction – so we are looking at a max of a 5% correction in pricing. Sales in June should be a little stronger, and prices about the same.

The most alarming numbers are the sales in 2016 & 2017, which were double of what we’ll have this month.

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