Inventory Watch

May 30, 2022

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4 Comments

I mentioned how overshoot is part of the program. It will be a miracle if the sellers’ expectations can adjust quickly enough to salvage the rest of the selling season.

It’s probably never been so hard in the history of real estate to get the list-price right!

Even if the price is ‘right’, a new listing might not sell right away just because of buyers wanting to wait-and-see for a while longer. Sellers won’t know what to do, so they won’t do anything and they will wait-and-see too. Only a few might drop their price enough to make a difference.

Welcome to Plateau City – we’ve arrived!

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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
May 30	30	$782/sf	24	28

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
May 30	36	$843/sf	23	36

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
May 30	78	$951/sf	27	56

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
May 30	40	$1,178/sf	61	28

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
May 30	129	$1,706/sf	93	39

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
May 30	54	44	307	183

4 Comments

Jim the Realtor on May 30, 2022 at 8:45 am

NSDCC Actives & Pendings

May 31, 2021: 326 actives, 375 pendings

May 30, 2022: 307 actives, 183 pendings

Last year was insane. This year is a different kind of crazy!

We can live with fewer closings. We’re going to have to!
Rob_Dawg on May 30, 2022 at 10:21 am

Notice the quartile compression.
Jim the Realtor on May 30, 2022 at 6:02 pm

Notice the quartile compression.

That’s a good thing……right? Feels like circling the wagons.
Rob_Dawg on May 31, 2022 at 10:37 am

Good thing? Depends. If you are looking to unload your eight digit bomber mansion maybe not. Certainly a more sustainable path as blow off top prices are no longer inducing the second quartile to price for failure.