How can we gauge how the market is doing?

Each blog post here has at least one category, including ‘How Hot’ – which hasn’t been touched since 2017, so no new revelations there.

Let’s take a quick look at the January listings to use as our gauge.

Of the 126 NSDCC new listings this month, only 21 of them have gone pending or sold.

Four January listings have already closed escrow, and all were sold off-market, so not much to learn there. The remaining 17 of 122 that have found a buyer makes for only 14%, which doesn’t sound like many.

What’s the hold up? Are buyers determined to wait-and-see for an extended period?

Maybe, but it’s more due to the staleness.

Of the 126 January listings, 40% of them were on the market in the last half of 2024. A few listed with a new agent, and a handful raised their price. But the vast majority were refreshed by the same agent at the same price in hopes of fooling buyers into thinking that they were hot new listings coming to market.

You’re not going to fool many, because everyone knows to check the history of every new listing by now. The minute that buyers see that it was refreshed, it gets swiped.

This is #2 of my ten categories on why more listings will be coming to market in 2025, and just old-listings-being-refreshed could make up a bulk of my predicted +15% to +20% additional listings YoY by themselves!

When buyers see unsold listings starting to pile up, they might think the market is sluggish. But it’s just the listing agents doing it to ourselves again – undermining the truth!

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