Inventory Watch

by | Jul 15, 2024 | Inventory, Jim's Take on the Market

The number of NSDCC active listings blew right through the 500 mark, and the count is now up to 509 unsolds. The number of pendings had stayed above last year’s count primarily because there have been more homes for sale.

But it looks like all the quality homes have been taken now, and pendings’ count started decelerating three weeks ago. There will be very few hot buys listed over the next 4-5 months, so buyers will have to earn it by lowballing the existing inventory if they want to move this year.

My prediction that the political circus would be a big distraction to home sales didn’t include an assassination attempt! But if both candidates make good on their promise to lower the vitriol, it would be good for home sales, especially if mortgage rates keep coming down.

But it will take a massive surge in price reductions this week to create a late-summer rally. It’s going to be too easy for buyers to pack it in for 2024, and hope that next year brings lower prices and rates.

When is the best time to buy? When nobody else is!

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
Apr 22
18
$829/sf
16
23
Apr 29
20
$796/sf
20
23
May 6
19
$868/sf
18
23
May 13
21
$859/sf
18
22
May 20
25
$939/sf
20
18
May 27
24
$897/sf
25
20
Jun 3
22
$879/sf
25
19
Jun 10
25
$834/sf
26
19
Jun 17
21
$823/sf
31
21
Jun 24
24
$752/sf
32
24
Jul 1
23
$760/sf
44
26
Jul 8
22
$801/sf
40
23
Jul 15
22
$815/sf
36
23

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
Apr 22
36
$964/sf
31
37
Apr 29
44
$921/sf
25
33
May 6
44
$921/sf
30
36
May 13
46
$939/sf
25
34
May 20
47
$965/sf
24
38
May 27
47
$965/sf
30
40
Jun 3
53
$1,006/sf
32
36
Jun 10
61
$942/sf
30
36
Jun 17
62
$909/sf
30
37
Jun 24
62
$909/sf
28
40
Jul 1
70
$883/sf
30
43
Jul 8
67
$925/sf
30
47
Jul 15
70
$888/sf
31
51

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
Apr 22
81
$1,066/sf
38
62
Apr 29
79
$1,076/sf
34
64
May 6
77
$1,067/sf
35
56
May 13
78
$1,069/sf
38
58
May 20
93
$1,049/sf
39
46
May 27
92
$1,053/sf
39
47
Jun 3
105
$1,025/sf
41
43
Jun 10
105
$1,035/sf
40
53
Jun 17
107
$1,002/sf
36
51
Jun 24
118
$1,034/sf
35
58
Jul 1
111
$1,013/sf
37
59
Jul 8
111
$1,019/sf
41
58
Jul 15
120
$1,014/sf
43
47

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
Apr 22
70
$1,462/sf
75
20
Apr 29
68
$1,434/sf
75
25
May 6
67
$1,373/sf
70
26
May 13
71
$1,355/sf
68
25
May 20
78
$1,298/sf
63
24
May 27
79
$1,267/sf
66
26
Jun 3
75
$1,272/sf
65
26
Jun 10
81
$1,248/sf
62
26
Jun 17
89
$1,195/sf
59
28
Jun 24
84
$1,229/sf
61
33
Jul 1
87
$1,227/sf
62
31
Jul 8
77
$1,278/sf
68
33
Jul 15
91
$1,263/sf
63
31

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
Apr 22
183
$1,733/sf
85
42
Apr 29
187
$1,765/sf
81
42
May 6
191
$1,751/sf
83
42
May 13
184
$1,754/sf
84
47
May 20
193
$1,734/sf
81
45
May 27
202
$1,716/sf
78
46
Jun 3
203
$1,694/sf
74
43
Jun 10
206
$1,716/sf
70
43
Jun 17
204
$1,666/sf
68
41
Jun 24
208
$1,678/sf
68
44
Jul 1
213
$1,673/sf
70
35
Jul 8
212
$1,674/sf
72
29
Jul 15
217
$1,637/sf
73
26

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
Apr 22
44
36
384
179
Apr 29
67
36
393
185
May 6
58
48
394
183
May 13
47
34
395
186
May 20
67
26
429
171
May 27
57
36
435
179
Jun 3
55
26
449
166
Jun 10
77
40
469
175
Jun 17
64
37
474
175
Jun 24
78
29
489
192
Jul 1
51
38
496
188
Jul 8
41
37
479
184
Jul 15
52
29
509
172

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
Apr 22
$2,499,000
$3,982,500
$6,495,000
Apr 29
$2,399,000
$3,990,000
$6,750,000
May 6
$2,485,000
$3,995,000
$6,825,000
May 13
$2,475,000
$3,895,000
$6,900,000
May 20
$2,420,000
$3,750,000
$6,480,000
May 27
$2,495,000
$3,840,000
$6,695,000
Jun 3
$2,475,000
$3,749,000
$6,395,000
Jun 10
$2,388,000
$3,500,000
$6,187,000
Jun 17
$2,412,500
$3,599,500
$5,995,000
Jun 24
$2,350,000
$3,500,000
$6,398,000
Jul 1
$2,398,000
$3,600,000
$6,400,000
Jul 8
$2,399,000
$3,650,000
$6,500,000
Jul 15
$2,399,999
$3,500,000
$6,398,000
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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