Inventory Watch

NSDCC Listings, January 1-15

2023: 100

2024: 99

You could say that the 2024 inventory is tracking very closely to last year’s numbers! There will be extras added to this year’s count, so comparatively, we can guess that the 2024 count will be 110-115 or so.

But look at the difference in the graph above.

Last year got off to a fast start as the number of pendings picked up right away….but not this year. The actives are there, but they aren’t flying into escrow like last year.

Our open house had a similar result. lots of attendees, glowing remarks, hints of offers, but we’re not in escrow yet. I only saw a handful of other open houses, but the results looked the same – lots of people milling about, but that’s about it.

A slower start probably means that the inventory is still very thin, which makes it hard to compare. Mortgage rates are about the same as they were last January, so that’s not it – but the rate expectation is way different, with Fed moves expected over the next few months. It could cause buyers to be very deliberate in the early going.

Hopefully, the pendings count will increase over the next few days as the fruits from the weekend are logged. But the actives are surging ahead for now.

The $0 – $1,500,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2024	15	$724/sf	49	23
Jan 8	13	$645/sf	58	19
Jan 15	10	$664/sf	55	15

The $1,500,000 – $2,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2024	20	$866/sf	66	28
Jan 8	23	$890/sf	63	23
Jan 15	32	$876/sf	47	35

The $2,000,000 – $3,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2024	54	$1,046/sf	65	34
Jan 8	59	$1,034/sf	57	30
Jan 15	69	$1,094/sf	44	35

The $3,000,000 – $4,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2024	33	$1,216/sf	92	15
Jan 8	37	$1,248/sf	83	15
Jan 15	42	$1,236/sf	77	18

The $4,000,000+ Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 2, 2024	139	$1,858/sf	116	20
Jan 8	151	$1,896/sf	109	18
Jan 15	157	$1,879/sf	106	22

NSDCC Weekly New Listings and New Pendings

Week	New Listings	New Pendings	Total Actives	Total Pendings
Jan 2, 2024	18	10	255	113
Jan 8	43	12	278	100
Jan 15	52	20	305	102

NSDCC List Price Quartiles

Week	1st Quartile	Median List Price	3rd Quartile
Jan 2, 2024	$2,549,888	$4,444,000	$8,350,000
Jan 8	$2,572,444	$4,447,000	$8,097,500
Jan 15	$2,499,000	$4,200,000	$7,950,000