Even with the list prices reflecting massively-inflated values, nearly half of the homebuyers felt the need to pay over the list price lately:

NSDCC Detached-Home Sales, % Closed Over List Price

January: 38%

February: 43%

March: 53%

April: 55%

May: 54%

June: 59%

July: 64%

August: 55%

September: 41%

October: 45%

November: 48%

December: 48%

January: 49%

There were another 15% who paid full price in January, so almost two-thirds paid all the money. There were 16 listings that sold with zero days on market too.

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Percentage Of Sales Over List Price by Price Range

Price Range
March
April
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
$0 – $1.0M
76%
79%
89%
88%
89%
88%
64%
78%
71%
88%
50%
$1.0M – $1.5M
68%
78%
84%
75%
74%
74%
37%
64%
64%
76%
82%
$1.5M – $2.0M
66%
66%
72%
66%
82%
73%
61%
58%
56%
50%
67%
$2.0M – $3.0M
54%
32%
34%
66%
56%
56%
36%
38%
46%
20%
33%
$3M+
16%
22%
22%
17%
26%
19%
24%
7%
22%
13%
26%

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The January sales were a little soft, historically, but the inventory has been decimated:

NSDCC January Sales

2017: 174

2018: 149

2019: 150

2020: 182

2021: 187

2022: 140

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NSDCC Average and Median Prices

Month
# of Sales
Avg. LP
Avg. SP
Median LP
Median SP
Feb
224
$2,298,797
$2,257,334
$1,719,500
$1,758,000
March
252
$2,295,629
$2,260,524
$1,800,000
$1,825,000
April
357
$2,396,667
$2,403,962
$1,799,900
$1,828,000
May
300
$2,596,992
$2,581,715
$1,900,000
$1,994,500
June
348
$2,509,175
$2,537,953
$1,900,000
$1,967,500
July
311
$2,421,326
$2,442,738
$1,795,000
$1,855,000
Aug
268
$2,415,075
$2,438,934
$1,897,000
$1,950,000
Sept
278
$2,479,440
$2,445,817
$1,899,000
$1,987,500
Oct
248
$2,754,470
$2,705,071
$1,899,000
$1,899,500
Nov
199
$2,713,693
$2,707,359
$1,999,000
$2,100,000
Dec
189
$2,686,126
$2,664,391
$1,985,000
$2,157,500
Jan
140
$2,828,988
$2,855,213
$2,234,944
$2,240,000

The average sales price went up 7% MoM.

The median sales price went up 4% MoM.

The local pricing flattened out last summer, only to be revived over the last three months.

It should be a crazy spring – probably the craziest ever!

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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!

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