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Let’s take a look at the covid history of one of our frenzy measuring sticks:

NSDCC Sales-Price-to-List-Price Ratio:

Month
# of Sales
Median List Price
Median Sales Price
SP:LP Ratio
March 2020
206
$1,492,500
$1,445,000
96.8%
Apr
156
$1,424,499
$1,390,000
97.6%
May
143
$1,399,900
$1,395,000
99.6%
Jun
274
$1,362,500
$1,363,700
100%
Jul
351
$1,450,000
$1,423,350
98.2%
Aug
350
$1,450,000
$1,419,812
97.9%
Sep
360
$1,500,000
$1,498,750
99.9%
Oct
382
$1,696,500
$1,674,100
98.7%
Nov
305
$1,599,000
$1,599,900
100%
Dec
290
$1,633,500
$1,624,391
99.4%
Jan
187
$1,716,690
$1,725,000
100.5%
Feb
224
$1,719,500
$1,758,000
102.2%
March 2021
252
$1,800,000
$1,825,000
101.4%
Apr
359
$1,799,900
$1,825,829
101.4%
May
300
$1,900,000
$1,979,500
104.2%
Jun
357
$1,900,000
$1,960,000
103.2%
Jul
312
$1,792,500
$1,852,500
103.3%
Aug
268
$1,897,000
$1,950,000
102.8%
Sep
283
$1,899,000
$2,000,000
105.3%
Oct
251
$1,899,000
$1,899,000
100%
Nov
200
$1,998,500
$2,100,000
105.1%
Dec
183
$1,995,000
$2,165,000
108.5%
Jan
140
$2,234,944
$2,240,000
100.2%
Feb
158
$2,149,500
$2,386,500
111.0%
March 2022
206
$2,425,000
$2,625,000
108.2%

The chatter increases with the lower volume, plus there are going to be months when the offerings just aren’t that tasty. But in 2022, when buyers see a home they like, they over bid substantially!

All we have to do is watch the trend over the next few months to know the direction of the market.

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