It looks like we’ve found the number.

Because the inventory was so low last year, I thought the market could easily handle a 10% to 20% increase in active listings this year.

But now the number of actives is +30% YoY, and the pendings aren’t increasing in a similar fashion. If sales don’t pick up, it means a glut of unsold listings could be forming over the next 1-2 months.

Will buyers care?

Probably not, because they have shrugged off worse (higher prices and rates). But once a listing goes unsold for 2-3 weeks, it will take something drastic to get the buyers’ attention again.

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
Jan 29
12
$834/sf
36
21
Feb 5
12
$784/sf
38
23
Feb 12
10
$818/sf
30
22
Feb 19
12
$731/sf
17
21
Feb 26
7
$725/sf
26
21
Mar 4
9
$763/sf
23
21
Mar 11
15
$742/sf
14
17
Mar 18
15
$697/sf
16
21
Mar 25
13
$846/sf
19
22
Apr 1
12
$897/sf
22
20
Apr 8
15
$869/sf
37
22
Apr 15
17
$811/sf
16
25

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
Jan 29
38
$833/sf
43
26
Feb 5
39
$810/sf
34
28
Feb 12
32
$781/sf
39
34
Feb 19
33
$797/sf
36
29
Feb 26
33
$840/sf
36
31
Mar 4
39
$827/sf
32
31
Mar 11
30
$857/sf
43
37
Mar 18
34
$847/sf
36
37
Mar 25
34
$848/sf
43
43
Apr 1
23
$873/sf
42
47
Apr 8
30
$884/sf
37
47
Apr 15
32
$961/sf
36
43

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
Jan 29
65
$1,126/sf
41
48
Feb 5
68
$1,120/sf
31
50
Feb 12
60
$1,123/sf
34
56
Feb 19
71
$1,130/sf
29
56
Feb 26
64
$1,138/sf
30
61
Mar 4
62
$1,202/sf
33
55
Mar 11
61
$1,211/sf
29
62
Mar 18
72
$1,143/sf
32
53
Mar 25
70
$1,101/sf
31
64
Apr 1
71
$1,049/sf
31
63
Apr 8
68
$1,076/sf
31
63
Apr 15
82
$1,058/sf
33
55

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
Jan 29
42
$1,242/sf
75
20
Feb 5
36
$1,363/sf
73
25
Feb 12
40
$1,252/sf
34
18
Feb 19
47
$1,515/sf
45
17
Feb 26
50
$1,512/sf
42
16
Mar 4
50
$1,588/sf
44
19
Mar 11
50
$1,594/sf
44
23
Mar 18
60
$1,537/sf
38
22
Mar 25
59
$1,614/sf
70
27
Apr 1
62
$1,660/sf
76
26
Apr 8
65
$1,479/sf
76
27
Apr 15
72
$1,442/sf
70
26

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
Jan 29
162
$1,758/sf
108
31
Feb 5
162
$1,718/sf
108
30
Feb 12
154
$1,705/sf
107
34
Feb 19
168
$1,685/sf
107
24
Feb 26
175
$1,691/sf
105
26
Mar 4
166
$1,692/sf
97
36
Mar 11
178
$1,663/sf
90
37
Mar 18
179
$1,691/sf
90
29
Mar 25
177
$1,693/sf
83
34
Apr 1
176
$1,713/sf
87
31
Apr 8
177
$1,771/sf
82
37
Apr 15
179
$1,731/sf
88
40

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
Jan 29
44
32
314
140
Feb 5
44
33
312
149
Feb 12
37
34
292
159
Feb 19
53
24
326
143
Feb 26
45
37
324
151
Mar 4
52
45
332
166
Mar 11
53
26
331
165
Mar 18
62
32
355
159
Mar 25
45
46
348
186
Apr 1
37
42
340
183
Apr 8
58
36
352
191
Apr 15
58
29
378
184

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
Jan 29
$2,399,000
$4,225,000
$7,495,000
Feb 5
$2,398,000
$4,272,500
$7,495,000
Feb 12
$2,499,800
$4,297,500
$7,495,000
Feb 19
$2,499,400
$4,200,000
$6,972,500
Feb 26
$2,649,400
$4,350,000
$7,300,000
Mar 4
$2,525,000
$4,225,000
$7,149,500
Mar 11
$2,649,000
$4,295,000
$7,495,000
Mar 18
$2,500,000
$4,000,000
$6,750,000
Mar 25
$2,680,000
$4,097,499
$6,750,000
Apr 1
$2,785,000
$4,150,000
$6,999,999
Apr 8
$2,680,000
$4,047,500
$6,999,000
Apr 15
$2,570,000
$3,899,500
$6,797,500
author avatar
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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