Over List, February

by | Mar 4, 2022 | 2022, Frenzy, Over List | 2 comments

The market is heating up fast and early this year!  The majority of home buyers paid over the list price in February, and these were decisions mostly made in January:

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%

February: 60%

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Even though the 2022 listings count for the first two months of the year is 33% BELOW the count in 2021, sales are only 16% under the average for the last five years:

NSDCC January + February Sales

2017: 174 + 172 = 346

2018: 149 + 162 = 311

2019: 150 + 174 = 324

2020: 182 + 184 = 366

2021: 187 + 224 = 411

2022: 140 + 156 = 296

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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
Feb
156
$3,058,406
$3,104,854
$2,149,500
$2,386,500

The average sales price went up 7% MoM in January, and 9% in February.

The median sales price went up 4% MoM in January, and 7% in February.

THE MEDIAN SALES PRICE WENT UP 7% IN ONE MONTH!

This is the craziest real estate market ever – and the spring selling season is just getting started!

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2 Comments

  1. Jim the Realtor
    Jim the Realtor on March 4, 2022 at 9:28 am

    There must be a glitch in the MLS stats too.

    They show that the median days-on-market was 9, but there were actually 63% of the sales that went pending in nine days or less. The median was seven days.

    There were 17 sales with zero days on market.

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