An interesting phenomenon that has been occurring more lately is the delay in offers being submitted.

I’ve heard agents say it’s because people are being smarter about waiting until closer to the offer deadline so the listing agents have less time to shop them around, and that buyers are being more deliberate in checking their finances.

However, the more time that passes between the initial open house and the submission of offers, the less likely buyers will pay wildly over the list price….or even offer at all.

The pool of buyers who are willing to pay $500,000-$1,000,000 over list price has to be diminishing, and will it be long before the only buyers left are those who want to pay a fair price?

Typically there are a flurry of closings in the last week of the month. If there isn’t a corresponding uptick in new pendings this week, we could see the graph (at the top) look remarkably different next Monday!

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

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
Mar 28
10
$914/sf
25
28
Apr 4
10
$782/sf
33
34
Apr 11
19
$733/sf
21
36
Apr 18
16
$795/sf
28
34
Apr 25
18
$891/sf
27
30

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
Mar 28
14
$838/sf
15
48
Apr 4
18
$762/sf
25
42
Apr 11
23
$774/sf
15
39
Apr 18
22
$792/sf
17
41
Apr 25
18
$810/sf
20
41

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
Mar 28
34
$927/sf
12
65
Apr 4
32
$927/sf
20
69
Apr 11
44
$910/sf
17
62
Apr 18
48
$997/sf
19
66
Apr 25
42
$1,092/sf
18
73

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
Mar 28
25
$1,253/sf
67
30
Apr 4
30
$1,199/sf
61
27
Apr 11
32
$1,174/sf
62
31
Apr 18
33
$1,216/sf
68
31
Apr 25
33
$1,219/sf
63
33

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
Mar 28
104
$1,966/sf
97
59
Apr 4
103
$1,929/sf
97
56
Apr 11
106
$1,906/sf
97
55
Apr 18
108
$1,874/sf
100
51
Apr 25
116
$1,829/sf
97
38

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
Mar 28
53
50
185
224
Apr 4
46
40
190
220
Apr 11
61
39
221
213
Apr 18
41
46
224
212
Apr 25
50
43
224
205

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