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NSDCC Average and Median Prices by Month
| Month |
# of Sales |
Avg. LP |
Avg. SP |
Median LP |
Median SP |
| Feb |
224 |
$2,298,797 |
$2,257,334 |
$1,719,500 |
$1,758,000 |
| March |
252 |
$2,295,629 |
$2,260,524 |
$1,800,000 |
$1,825,000 |
| April |
357 |
$2,396,667 |
$2,403,962 |
$1,799,900 |
$1,828,000 |
| May |
300 |
$2,596,992 |
$2,581,715 |
$1,900,000 |
$1,994,500 |
| June |
348 |
$2,509,175 |
$2,537,953 |
$1,900,000 |
$1,967,500 |
| July |
311 |
$2,421,326 |
$2,442,738 |
$1,795,000 |
$1,855,000 |
| Aug |
268 |
$2,415,075 |
$2,438,934 |
$1,897,000 |
$1,950,000 |
| Sept |
278 |
$2,479,440 |
$2,445,817 |
$1,899,000 |
$1,987,500 |
| Oct |
248 |
$2,754,470 |
$2,705,071 |
$1,899,000 |
$1,899,500 |
| Nov |
199 |
$2,713,693 |
$2,707,359 |
$1,999,000 |
$2,100,000 |
| Dec |
189 |
$2,686,126 |
$2,664,391 |
$1,985,000 |
$2,157,500 |
| Jan |
140 |
$2,828,988 |
$2,855,213 |
$2,234,944 |
$2,240,000 |
| Feb |
158 |
$3,063,331 |
$3,108,907 |
$2,149,500 |
$2,386,500 |
| Mar |
207 |
$3,247,251 |
$3,337,348 |
$2,400,000 |
$2,625,000 |
| Apr |
227 |
$3,190,161 |
$3,251,604 |
$2,350,000 |
$2,550,000 |
| May |
215 |
$2,943,657 |
$3,032,977 |
$2,350,000 |
$2,500,000 |
| Jun |
190 |
$2,864,089 |
$2,872,690 |
$2,297,500 |
$2,350,000 |
| Jul |
155 |
$2,889,612 |
$2,832,080 |
$2,299,900 |
$2,300,000 |
| Aug |
164 |
$2,933,243 |
$2,830,855 |
$2,200,000 |
$2,150,000 |
| Sep |
135 |
$2,650,642 |
$2,560,314 |
$2,149,000 |
$2,040,000 |
| Oct |
124 |
$3,090,320 |
$2,971,211 |
$2,272,500 |
$2,212,500 |
OMG – the average & median sales prices went up!
Does that mean home prices went up?
NONONONO!
It means the set of homes that closed escrow in October happen to produce higher numbers because they were larger (October median sf was +12%) and more attractive than the group in September.
Just noting more of the speculation from Dr Doom:
“Before prices began to decline, we were overvalued [nationally] by around 25%. Now, this means prices will normalize. Affordability will be restored. The [housing] market won’t be overvalued after this process is over,”
-Mark Zandi, Moody’s
Our future residents!
The ultra-high-net-worth (UHNW) population—those with a net worth of $30 million or more—fell 6% to 392,410 in the first half of 2022 (down 10.3% in the US), a sharp reversal of last year’s 14% growth and the first downturn in UHNW numbers since 2018. There were 6 U.S. cities in the top 10 UHNW cities: New York, Los Angeles, San Francisco, Chicago, Washington, D.C., and Dallas.