Inventory Watch

by | Jan 22, 2024 | Inventory

During the frenzy, the market had waves of new pendings happen in the same week or two, as if there is a home-buying karma that sweeps a bunch of buyers into action at the same time. It’s probably more due to them digesting the new listings, and after a couple of weeks of 2024, it appears buyers are acting!

The NSDCC pendings count rose from 102 to 122 this week, a 20% pop!

In the graph above, you can see that last year the market was cooking by mid-February. When the actives and pending are stable, it means that the deals are closing as fast as the new listings are coming on!

Here is the history from the last few years:

2023:

2022:

2021:

2019/2020:

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
Jan 22
15
$750/sf
36
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
Jan 22
35
$823/sf
43
25

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
Jan 22
60
$1,108/sf
42
45

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
Jan 22
43
$1,283/sf
77
17

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
Jan 22
159
$1,824/sf
104
27

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
Jan 22
50
29
308
122

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
Jan 22
$2,429,000
$4,250,000
$7,450,000
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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
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