Inventory Watch

by | Mar 21, 2022 | 2022, Frenzy, Inventory | 5 comments

Numerically, the inventory isn’t getting any better yet:

NSDCC New Listings between March 1-15:

2018: 228

2019: 277

2020: 221

2021: 199

2022: 120

There will be a few more added to this year’s total but the homedemic continues – without additional inventory, the market will struggle to pick up momentum. The intensity of the fight over the quality homes could increase while other buyers have a hard time keeping their chops up, and become disinterested.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The $0 – $1,500,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 3, 2022
9
$832/sf
35
36
Jan 10
9
$766/sf
28
29
Jan 17
13
$773/sf
26
27
Jan 24
9
$818/sf
15
29
Jan 31
14
$752/sf
14
31
Feb 7
13
$774/sf
12
32
Feb 14
11
$826/sf
12
35
Feb 21
7
$889/sf
17
38
Feb 28
12
$888/sf
17
33
Mar 7
9
$1,017/sf
21
33
Mar 14
14
$847/sf
18
31
Mar 21
8
$912/sf
26
36

The $1,500,000 – $2,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 3, 2022
8
$842/sf
52
36
Jan 10
13
$751/sf
28
29
Jan 17
16
$736/sf
33
27
Jan 24
16
$801/sf
17
27
Jan 31
15
$696/sf
14
34
Feb 7
15
$765/sf
17
34
Feb 14
10
$726/sf
19
38
Feb 21
19
$715/sf
15
39
Feb 28
9
$660/sf
12
46
Mar 7
16
$789/sf
15
46
Mar 14
17
$837/sf
8
44
Mar 21
18
$867/sf
11
43

The $2,000,000 – $3,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 3, 2022
18
$1,080/sf
127
43
Jan 10
23
$1,038/sf
85
37
Jan 17
26
$1,044/sf
80
41
Jan 24
28
$1,015/sf
37
42
Jan 31
22
$949/sf
38
47
Feb 7
26
$919/sf
29
42
Feb 14
22
$997/sf
37
49
Feb 21
21
$966/sf
33
54
Feb 28
26
$905/sf
32
57
Mar 7
29
$922/sf
28
57
Mar 14
20
$852/sf
26
58
Mar 21
17
$928/sf
26
60

The $3,000,000 – $4,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 3, 2022
19
$1,230/sf
90
26
Jan 10
22
$1,210/sf
76
25
Jan 17
19
$1,207/sf
86
23
Jan 24
17
$1,129/sf
92
24
Jan 31
21
$1,172/sf
70
22
Feb 7
19
$1,169/sf
67
25
Feb 14
19
$1,234/sf
65
28
Feb 21
21
$1,279/sf
69
28
Feb 28
22
$1,214/sf
64
25
Mar 7
27
$1,295/sf
60
24
Mar 14
27
$1,201/sf
65
27
Mar 21
23
$1,282/sf
69
31

The $4,000,000+ Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 3, 2022
100
$1,884/sf
128
30
Jan 10
105
$1,864/sf
113
29
Jan 17
109
$1,763/sf
110
34
Jan 24
105
$2,130/sf
114
42
Jan 31
102
$2,114/sf
118
53
Feb 7
109
$2,000/sf
108
50
Feb 14
108
$2,005/sf
109
47
Feb 21
113
$2,008/sf
103
43
Feb 28
111
$1,991/sf
101
47
Mar 7
115
$1,904/sf
91
39
Mar 14
121
$1,893/sf
95
43
Mar 21
116
$1,905/sf
97
44

NSDCC Weekly New Listings and New Pendings

Week
New Listings
New Pendings
Total Actives
Total Pendings
Jan 3, 2022
17
14
152
164
Jan 10
39
18
167
142
Jan 17
34
29
179
145
Jan 24
41
40
173
157
Jan 31
43
40
173
182
Feb 7
43
38
179
179
Feb 14
44
49
168
193
Feb 21
51
38
180
197
Feb 28
39
39
179
205
Mar 7
54
37
191
195
Mar 14
48
51
195
196
Mar 21
39
46
178
207

5 Comments

  1. Rob_Dawg
    Rob_Dawg on March 21, 2022 at 12:59 pm

    I got yet another cold call asking us to sell one of our rentals. I just laughed and told the poor guy from Fontucky (Fontana) that he was fooled by the Zillguess. He laughed and we hung up.

    The Zilldoes have one of our properties so mis-priced this is becoming a weekly occurrence. 2 blocks away at half the size, much older, is seeing interest at roughly 3x the comparable Zillguess for our rental.

    Do NOT rely upon web numbers.

  2. Jim the Realtor
    Jim the Realtor on March 21, 2022 at 4:07 pm

    Do NOT rely upon web numbers.

    I think it’s too late.

    Sellers think their automated estimates are fact and tout them with gusto……unless they think the guesses are too low.

  3. Michael
    Michael on March 22, 2022 at 9:17 am

    Their guesses are way too low in La Jolla. Zillow is forced to raise their GUESS by $1+ million in many cases and they do so only AFTER the house sells for the current market price.

  4. Michael
    Michael on March 22, 2022 at 9:24 am

    The best recent example of Zillow’s GUESS-timate being way off in La Jolla was the recent sale of 5836 Waverly in the Upper Hermosa neighborhood (where as of today there are currently 0.0 houses available for sale). Zillow had the value of 5836 Waverly at $5.3 million in December 2021 (check their graph to confirm).

    The house was listed for Dale on 1/19/2022 for $5.998 million. It was pending sale after a bidding war on 1/27/22 and closed ALL CASH on 2/8/22 for $6.776 million. Zillow raised the value to almost $7 million recently for the house, but then backed it down back to the original asking price of about $6 million.

  5. Jim the Realtor
    Jim the Realtor on March 22, 2022 at 10:39 am

    Thanks Michael.

    Every seller who thinks their zestimate is the actual value will get what they have coming. Most will leave hundreds of thousands on the table.

Pin It on Pinterest