Inventory Watch

2025 | Inventory | Thinking of Selling? | Why You Should List With Jim

June 2, 2025

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2 Comments

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

Shadash on June 2, 2025 at 9:09 am

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.
Giving_Cat on June 2, 2025 at 11:05 am

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.