Written by Jim the Realtor

June 2, 2025

It’s obvious this year that the market is tough and sellers aren’t able to demand everything they want like before.

It will probably cause more sellers to cancel sooner, and others to not try at all. The inventory count may hover around 500-ish for a couple of more weeks but the inventory should taper off earlier than usual this year.

The problem hasn’t been an overwhelming surge in inventory. The problem is that there aren’t enough coming out the other end. NSDCC sales are 5% higher than last year for the Jan 1 to May 31 period. But, combined with the hangover of the 2024 unsold listings, the excess unsolds this year have been piling up.

Sellers will quit, rather than suffer the indignation of having to adjust on price.

I think we’ve seen peak inventory this year.

The $0 – $2,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 6, 2025
43
$918/sf
63
27
Jan 13
45
$936/sf
53
22
Jan 20
47
$908/sf
54
25
Jan 27
48
$904/sf
48
32
Feb 3
51
$914/sf
47
41
Feb 10
45
$935/sf
46
45
Feb 17
45
$916/sf
46
46
Feb 24
45
$958/sf
48
40
Mar 3
50
$950/sf
37
42
Mar 10
55
$908/sf
36
45
Mar 17
53
$891/sf
35
50
Mar 24
53
$898/sf
30
51
Mar 31
58
$878/sf
35
44
Apr 7
56
$867/sf
30
43
Apr 14
63
$906/sf
32
40
Apr 21
59
$936/sf
35
37
Apr 28
74
$899/sf
32
39
May 5
83
$907/sf
30
47
May 12
72
$916/sf
34
44
May 19
70
$898/sf
38
51
May 26
74
$923/sf
39
43
Jun 2
76
$912/sf
39
36

The $2,000,000 – $3,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 6, 2025
55
$1,029/sf
66
36
Jan 13
58
$990/sf
63
31
Jan 20
64
$1,018/sf
57
26
Jan 27
64
$1,025/sf
53
31
Feb 3
71
$1,009/sf
50
31
Feb 10
75
$1,005/sf
46
36
Feb 17
81
$1,015/sf
44
39
Feb 24
80
$1,012/sf
38
52
Mar 3
80
$1,034/sf
33
49
Mar 10
92
$1,029/sf
37
44
Mar 17
98
$1,015/sf
39
44
Mar 24
98
$1,008/sf
41
52
Mar 31
100
$997/sf
44
54
Apr 7
94
$940/sf
43
54
Apr 14
96
$962/sf
42
53
Apr 21
107
$1,000/sf
43
53
Apr 28
109
$1,010/sf
44
49
May 5
124
$1,036/sf
40
50
May 12
120
$1,041/sf
43
57
May 19
133
$1,034/sf
43
49
May 26
133
$1,055/sf
47
53
Jun 2
140
$1,039/sf
48
51

The $3,000,000 – $4,000,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 6, 2025
44
$1,091/sf
82
19
Jan 13
46
$1,122/sf
77
19
Jan 20
52
$1,156/sf
70
16
Jan 27
49
$1,197/sf
67
20
Feb 3
56
$1,182/sf
55
21
Feb 10
58
$1,158/sf
51
25
Feb 17
58
$1,179/sf
54
24
Feb 24
56
$1,168/sf
52
24
Mar 3
51
$1,147/sf
56
31
Mar 10
56
$1,240/sf
61
34
Mar 17
60
$1,209/sf
61
36
Mar 24
60
$1,209/sf
62
39
Mar 31
62
$1,158/sf
64
34
Apr 7
68
$1,208/sf
59
34
Apr 14
79
$1,193/sf
55
26
Apr 21
85
$1,230/sf
54
28
Apr 28
85
$1,198/sf
53
28
May 5
82
$1,179/sf
56
28
May 12
89
$1,148/sf
53
30
May 19
88
$1,161/sf
56
28
May 26
85
$1,157/sf
58
26
Jun 2
81
$1,162/sf
58
22

The $4,000,000+ Market:

Date
NSDCC Active Listings
Avg. LP/sf
Avg. DOM
# of Pendings
Jan 6, 2025
160
$1,822/sf
105
27
Jan 13
156
$1,868/sf
105
31
Jan 20
170
$1,936/sf
95
29
Jan 27
180
$1,877/sf
90
31
Feb 3
189
$1,884/sf
85
31
Feb 10
189
$1,864/sf
88
29
Feb 17
192
$1,875/sf
90
32
Feb 24
195
$1,869/sf
91
34
Mar 3
200
$1,860/sf
87
34
Mar 10
213
$1,811/sf
83
36
Mar 17
208
$1,755/sf
85
30
Mar 24
211
$1,800/sf
86
25
Mar 31
213
$1,784/sf
90
32
Apr 7
219
$1,777/sf
90
33
Apr 14
230
$1,790/sf
87
35
Apr 21
231
$1,792/sf
87
32
Apr 28
235
$1,772/sf
88
28
May 5
239
$1,811/sf
82
30
May 12
239
$1,811/sf
85
33
May 19
255
$1,773/sf
85
29
May 26
265
$1,759/sf
87
24
Jun 2
242
$1,745/sf
90
29

NSDCC Weekly New Listings and New Pendings

Week
New Listings
New Pendings
Total Actives
Total Pendings
Jan 6
27
11
298
108
Jan 13
38
26
301
101
Jan 20
55
16
328
95
Jan 27
60
32
337
113
Feb 3
72
28
363
123
Feb 10
50
34
364
135
Feb 17
50
29
373
140
Feb 24
58
38
374
148
Mar 3
60
31
378
152
Mar 10
60
30
411
156
Mar 17
49
37
413
157
Mar 24
57
39
414
164
Mar 31
47
27
425
162
Apr 7
52
31
431
162
Apr 14
70
28
462
153
Apr 21
58
24
478
148
Apr 28
71
30
501
143
May 5
82
37
524
154
May 12
56
39
516
163
May 19
54
20
543
156
May 26
58
29
554
146
Jun 2
41
22
535
138

NSDCC List Price Quartiles

Week
1st Quartile
Median List Price
3rd Quartile
Jan 6
$2,685,000
$4,472,500
$7,995,000
Jan 13
$2,499,000
$4,250,000
$7,750,000
Jan 20
$2,695,000
$4,300,000
$7,767,000
Jan 27
$2,795,000
$4,498,000
$7,995,000
Feb 3
$2,695,000
$4,350,000
$7,499,000
Feb 10
$2,799,000
$4,299,000
$7,695,000
Feb 17
$2,695,000
$4,200,000
$7,750,000
Feb 24
$2,699,500
$4,250,000
$7,645,000
Mar 3
$2,550,000
$4,375,000
$7,497,000
Mar 10
$2,500,000
$4,200,000
$7,250,000
Mar 17
$2,500,000
$4,000,000
$6,995,000
Mar 24
$2,595,000
$4,047,500
$7,275,000
Mar 31
$2,499,000
$4,000,000
$7,300,000
Apr 7
$2,500,000
$4,000,000
$6,995,000
Apr 14
$2,500,000
$3,999,000
$6,995,000
Apr 21
$2,590,000
$3,995,000
$6,799,500
Apr 28
$2,490,000
$3,988,000
$6,500,000
May 5
$2,395,000
$3,795,000
$6,495,000
May 12
$2,495,000
$3,895,000
$6,500,000
May 19
$2,495,000
$3,950,000
$6,595,000
May 26
$2,495,000
$3,984,500
$6,547,500
Jun 2
$2,395,000
$3,799,000
$6,295,500

2 Comments

  1. Shadash

    The Fed is going to be forced to lower interest rates soon. Keeping interest rates high might be a FU to Trump but its entirely killed inflation which he’s now highlighting as a win. A 2 point decrease would make sales go crazy but I dont think it would push up prices because theres a glut of inventory and people are nervous about investing.

  2. Giving_Cat

    Shadash, the most you can expect is 50bps by October. Either 25bps Sept & Oct or 50bps in October. The Fed has earned its reputation for too little, too late. And as you note any sooner looks (to them) like caving to Trump.

    In their (weak) defense inflation remains a concern.

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