There are 27% more active listings today than there were last March – without much increase in the number of pendings – though the areas in red above are just as hot as they were last year at this time.
Judging by the number of active (unsold) listings compared to the totals though, sales are more sluggish now than in any year since 2019 when we had 90 actives priced under $1 million (today there are none):
NSDCC Total Listings Jan 1 to Mar 10 and Active Listings in Mid-March
Last year, we didn’t have 335 actives until the end of May!
Sellers will call it normalizing, and buyers will wonder how much more normal will it get!
It’s doubtful that today’s buyers are remembering 2019 though, and if anything they are comparing to last year – and looking for any reason not to buy. If the active count keeps rising, it’s going to look like a glut in a couple of months.
