Another good way to anticipate the market trends is to check the direction of the SP:LP ratio:
NSDCC Monthly Sales and SP:LP Ratio
| Month |
# of Sales |
Median LP |
Median SP |
SP:LP |
| Jan 2022 |
149 |
$2,099,999 |
$2,200,000 |
105% |
| Feb |
169 |
$2,099,999 |
$2,300,000 |
110% |
| Mar |
219 |
$2,384,000 |
$2,500,000 |
105% |
| Apr |
239 |
$2,299,000 |
$2,450,000 |
107% |
| May |
230 |
$2,300,000 |
$2,432,500 |
106% |
| Jun |
203 |
$2,200,000 |
$2,330,000 |
105% |
| Jul |
165 |
$2,199,000 |
$2,249,000 |
102% |
| Aug |
177 |
$2,100,000 |
$2,100,000 |
100% |
| Sep |
146 |
$2,037,499 |
$1,940,000 |
96% |
| Oct |
124 |
$2,225,000 |
$2,125,000 |
96% |
| Nov |
123 |
$1,925,000 |
$1,860,000 |
97% |
| Dec |
110 |
$2,091,500 |
$1,892,500 |
90% |
| Jan 2023 |
105 |
$1,995,000 |
$2,000,000 |
100% |
| Feb |
112 |
$2,150,000 |
$2,040,000 |
95% |
| Mar |
191 |
$2,199,888 |
$2,200,000 |
100% |
| Apr |
165 |
$2,199,000 |
$2,180,000 |
99% |
| May |
178 |
$2,300,000 |
$2,362,500 |
103% |
| Jun |
160 |
$2,199,500 |
$2,257,500 |
103% |
| Jul |
170 |
$1,998,750 |
$1,961,250 |
99% |
| Aug |
198 |
$2,224,500 |
$2,217,500 |
100% |
| Sep |
154 |
$2,272,500 |
$2,201,250 |
97% |
| Oct |
140 |
$2,250,000 |
$2,182,500 |
97% |
| Nov |
117 |
$2,325,000 |
$2,200,000 |
95% |
| Dec |
87 |
$2,100,000 |
$2,050,000 |
98% |
| Jan 2024 |
108 |
$2,200,000 |
$2,267,500 |
103% |
| Feb |
97 |
$2,395,000 |
$2,500,000 |
104% |
Pricing looks strong – similar to the March-May, 2022 era, which was the hottest frenzy ever!
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
