The overshoot part of the frenzy is unavoidable.
The pricing of the new listings was calculated on sold comps from when the frenzy was hotter and sellers were getting big pops over the list prices.
Back then, you didn’t have to spruce ’em up as much, you got away with sloppy pricing, and the listing agents insisted on 60-day rentbacks for free, ‘coming soon’ teasers for weeks, and showing times based on when the listing agent felt like fitting it into their schedule.
The pricing part has been correcting – it’s the rest of the package that needs adjustment:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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 |
| May 2 |
22 |
$822/sf |
23 |
31 |
| May 9 |
24 |
$887/sf |
17 |
46 |
| May 16 |
25 |
$783/sf |
22 |
25 |
| May 23 |
29 |
$782/sf |
23 |
29 |
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 |
| May 2 |
27 |
$809/sf |
17 |
37 |
| May 9 |
33 |
$837/sf |
17 |
46 |
| May 16 |
39 |
$793/sf |
19 |
44 |
| May 23 |
43 |
$793/sf |
22 |
44 |
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 |
| May 2 |
54 |
$995/sf |
19 |
70 |
| May 9 |
61 |
$910/sf |
20 |
73 |
| May 16 |
64 |
$977/sf |
22 |
69 |
| May 23 |
82 |
$953/sf |
25 |
59 |
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 |
| May 2 |
37 |
$1,164/sf |
50 |
36 |
| May 9 |
33 |
$1,132/sf |
57 |
32 |
| May 16 |
40 |
$1,119/sf |
53 |
32 |
| May 23 |
40 |
$1,135/sf |
57 |
27 |
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 |
| May 2 |
117 |
$1,781/sf |
95 |
32 |
| May 9 |
116 |
$1,831/sf |
96 |
36 |
| May 16 |
124 |
$1,854/sf |
91 |
39 |
| May 23 |
125 |
$1,855/sf |
92 |
36 |
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 |
| May 2 |
76 |
37 |
256 |
196 |
| May 9 |
59 |
46 |
262 |
207 |
| May 16 |
78 |
48 |
286 |
200 |
| May 23 |
61 |
42 |
312 |
192 |
