Inventory Watch

The listings are starting to stack up.

There is a fine balance where more supply would be soaked up by the excess demand. Boy, it’s a fine line though because the inventory hasn’t been blowing up:

NSDSCC New Listings Per Month:

Feb: 191

Mar: 227

Apr: 219

May: 161

At this rate, the new-listings count in May will probably be in the 230-250 range which would be in line with expectations. It would be natural to have more listings in April and May than in March due to the 2023 market conditions improving so rapidly, but maybe the euphoria has only begun to draw more sellers into the market….and they want all the money, apparently!

If the new listings aren’t blowing up, yet the active inventory is growing, it means price is the issue.

Of the 161 NSDCC listings this month, only 26 have have gone pending.

The $0 – $1,500,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2023	22	$719/sf	75	15
Jan 9	26	$687/sf	50	14
Jan 16	23	$701/sf	52	20
Jan 23	25	$751/sf	60	21
Jan 30	23	$788/sf	45	25
Feb 6	18	$750/sf	59	24
Feb 13	18	$770/sf	48	26
Feb 20	17	$778/sf	49	26
Feb 27	18	$802/sf	48	23
Mar 6	22	$802/sf	44	14
Mar 13	22	$747/sf	45	16
Mar 20	16	$826/sf	49	21
Mar 27	17	$853/sf	47	20
Apr 3	19	$803/sf	37	20
Apr 10	11	$778/sf	53	30
Apr 17	15	$690/sf	44	27
Apr 24	12	$682/sf	33	25
May 1	11	$795/sf	35	27
May 8	14	$780/sf	33	24
May 15	16	$770/sf	37	22
May 22	21	$747/sf	45	18

The $1,500,000 – $2,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2023	45	$809/sf	60	18
Jan 9	55	$828/sf	53	19
Jan 16	46	$838/sf	53	30
Jan 23	43	$793/sf	52	31
Jan 30	40	$778/sf	54	34
Feb 6	42	$814/sf	46	30
Feb 13	35	$823/sf	51	39
Feb 20	34	$801/sf	47	40
Feb 27	27	$846/sf	33	45
Mar 6	29	$893/sf	33	41
Mar 13	32	$850/sf	33	39
Mar 20	27	$872/sf	36	41
Mar 27	22	$832/sf	39	36
Apr 3	21	$779/sf	27	36
Apr 10	22	$816/sf	26	33
Apr 17	27	$797/sf	21	33
Apr 24	28	$856/sf	31	34
Apr 24	28	$856/sf	31	34
May 1	30	$789/sf	28	36
May 8	36	$808/sf	25	37
May 15	33	$776/sf	33	44
May 22	35	$818/sf	36	44

The $2,000,000 – $3,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2023	52	$869/sf	69	30
Jan 9	57	$940/sf	66	31
Jan 16	50	$948/sf	61	36
Jan 23	51	$949/sf	58	35
Jan 30	54	$964/sf	55	34
Feb 6	60	$930/sf	51	42
Feb 13	51	$1,038/sf	52	47
Feb 20	58	$1,022/sf	47	46
Feb 27	56	$1,064/sf	52	49
Mar 6	57	$995/sf	50	50
Mar 13	55	$1,015/sf	53	47
Mar 20	50	$1,011/sf	58	50
Mar 27	54	$1,039/sf	49	47
Apr 3	54	$1,035/sf	52	38
Apr 10	55	$1,004/sf	48	42
Apr 17	64	$985/sf	47	46
Apr 24	57	$1,001/sf	43	50
May 1	57	$1,008/sf	42	45
May 8	68	$1,031/sf	36	41
May 15	71	$1,007/sf	34	39
May 22	77	$1,003/sf	34	38

The $3,000,000 – $4,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2023	29	$1,236/sf	85	6
Jan 9	29	$1,180/sf	80	5
Jan 16	31	$1,196/sf	73	8
Jan 23	33	$1,201/sf	71	7
Jan 30	37	$1,218/sf	70	6
Feb 6	34	$1,236/sf	75	12
Feb 13	43	$1,333/sf	68	11
Feb 20	39	$1,392/sf	71	18
Feb 27	37	$1,323/sf	68	22
Mar 6	49	$1,222/sf	56	20
Mar 13	49	$1,312/sf	49	22
Mar 20	46	$1,321/sf	52	25
Mar 27	50	$1,329/sf	52	25
Apr 3	49	$1,342/sf	51	23
Apr 10	50	$1,321/sf	57	24
Apr 17	47	$1,342/sf	59	26
Apr 24	49	$1,281/sf	63	28
May 1	53	$1,227/sf	62	23
May 8	55	$1,122/sf	63	19
May 15	57	$1,211/sf	59	19
May 22	59	$1,170/sf	61	19

The $4,000,000+ Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2023	121	$1,744/sf	126	21
Jan 9	119	$1,716/sf	123	20
Jan 16	120	$1,761/sf	121	26
Jan 23	122	$1,707/sf	119	27
Jan 30	120	$1,680/sf	121	30
Feb 6	125	$1,714/sf	118	28
Feb 13	121	$1,750/sf	116	32
Feb 20	129	$1,725/sf	112	33
Feb 27	124	$1,743/sf	115	31
Mar 6	122	$1,753/sf	109	28
Mar 13	120	$1,782/sf	109	32
Mar 20	129	$1,783/sf	106	28
Mar 27	127	$1,781/sf	106	27
Apr 3	131	$1,774/sf	105	27
Apr 10	136	$1,788/sf	107	24
Apr 17	140	$1,776/sf	108	27
Apr 24	141	$1,771/sf	107	31
May 1	142	$1,760/sf	105	30
May 8	140	$1,737/sf	104	32
May 15	141	$1,812/sf	107	37
May 22	145	$1,816/sf	106	29

NSDCC Weekly New Listings and New Pendings

Week	New Listings	New Pendings	Total Actives	Total Pendings
Jan 2, 2023	11	6	263	89
Jan 9	36	15	277	88
Jan 16	36	34	266	114
Jan 23	36	22	269	116
Jan 30	32	25	272	123
Feb 6	46	33	275	131
Feb 13	30	35	265	150
Feb 20	43	34	274	158
Feb 27	27	30	260	165
Mar 6	45	28	276	150
Mar 13	38	38	274	154
Mar 20	39	37	265	164
Mar 27	36	25	267	153
Apr 3	37	28	271	143
Apr 10	36	39	272	151
Apr 17	47	27	291	157
Apr 24	46	41	282	167
May 1	59	31	288	159
May 8	53	26	310	151
May 15	48	31	315	157
May 22	50	24	332	145

NSDCC Weekly LP Quartiles

Week	1st Quartile	2nd Quartile (Median LP)	3rd Quartile
Jan 2, 2023	$2,095,000	$3,695,000	$5,995,000
Jan 9	$1,990,000	$3,495,000	$5,775,000
Jan 16	$2,000,000	$3,574,000	$5,995,000
Jan 23	$2,099,000	$3,595,000	$5,999,000
Jan 30	$2,195,000	$3,525,000	$5,942,000
Feb 6	$2,195,000	$3,598,000	$6,845,000
Feb 13	$2,300,000	$3,795,000	$6,495,000
Feb 20	$2,397,500	$3,950,000	$6,197,500
Feb 27	$2,480,800	$3,970,000	$6,845,000
Mar 6	$2,395,000	$3,749,500	$5,995,000
Mar 13	$2,397,000	$3,772,500	$5,997,000
Mar 20	$2,580,000	$3,995,000	$6,800,000
Mar 27	$2,595,000	$3,995,000	$6,845,000
Apr 3	$2,699,000	$3,995,000	$6,750,000
Apr 10	$2,799,500	$4,074,997	$6,895,000
Apr 17	$2,600,000	$3,995,000	$6,597,000
Apr 24	$2,685,000	$4,074,997	$6,895,000
May 1	$2,695,000	$3,999,000	$6,495,000
May 8	$2,525,000	$3,849,949	$5,946,000
May 15	$2,495,000	$3,749,400	$5,950,000
May 22	$2,444,000	$3,695,400	$6,000,000