There have only been 83 NSDCC sales recorded in December, 2023, which means we may not make it to 100 closings. January isn’t looking too good either, and from what I can find, we’ve never had less than 100 monthly sales, let alone in back-to-back months. But it’s coming.
It puts the squeeze on everyone.
Buyers lose faith that there will be more homes to consider and end up jumping at one. Sellers either think they can get away with any price and tack on an extra 5% to 10% over the comps from 2021….or they give up altogether and decide to wait until the market “gets better”.
Even with a little extra inventory, the market is going to look and feel uncertain. Is it going up or down?
When we are having the fewest sales ever, the the evidence is thin, and the results vary!
NSDCC December Sales Under $4,000,000:
Number of sales that closed for $100,000+ OVER their list price: 12
Number of sales that closed for $100,000+ UNDER their list price: 17
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