Inventory Watch

Inventory | Jim's Take on the Market | Market Conditions

July 2, 2018

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4 Comments

If we were to compare a simple set of data points to describe the general condition of the NSDCC market today, it would be these:

The UNDER-$1,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Apr 2	50	$464/sf	24	95
Jul 2	96	$443/sf	30	76

The lowest-end of the market – the place that should be the hottest – has almost doubled the number of houses for sale over the last 90 days (and this is the selling season!).

During the same period, their average list pricing has declined 5%, and the number of pendings has dropped 20%. A casual observer might conclude that the market is in freefall, but it’s just sorting itself out. We are seeing what the ibuyers are finding out – sellers are willing to take less, and still call it a win.

While sellers would love to get a crazy-high, new-record price for their home, prices have gone up so much recently that even if they have to take less, it is still a substantially-higher profit over just a few years ago.

Last year, there were 314 closed sales between April 2nd and July 2nd, but this year the current count is only 217 – so not every seller is in recognition.

Get Good Help!

The UNDER-$1,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 1	36	$477/sf	51	58
Jan 8	35	$479/sf	42	56
Jan 15	39	$469/sf	37	53
Jan 22	37	$453/sf	42	62
Jan 29	38	$459/sf	35	64
Feb 5	41	$463/sf	26	69
Feb 12	39	$461/sf	20	73
Feb 19	42	$456/sf	20	72
Feb 26	53	$451/sf	20	81
Mar 5	47	$457/sf	24	79
Mar 12	60	$434/sf	19	87
Mar 19	67	$478/sf	21	81
Mar 26	61	$477/sf	23	86
Apr 2	50	$464/sf	24	95
Apr 9	56	$471/sf	23	93
Apr 16	61	$464/sf	24	93
Apr 23	59	$459/sf	25	96
Apr 30	61	$466/sf	27	95
May 7	67	$472/sf	20	89
May 14	66	$480/sf	21	95
May 21	81	$474/sf	21	85
May 28	83	$438/sf	24	91
Jun 4	80	$442/sf	27	97
Jun 11	81	$427/sf	27	91
Jun 18	88	$442/sf	29	78
Jun 25	93	$442/sf	31	77
Jul 2	96	$443/sf	30	76

The $1,000,000 – $1,500,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 1	91	$532/sf	72	68
Jan 8	99	$551/sf	64	64
Jan 15	96	$535/sf	61	75
Jan 22	107	$515/sf	63	82
Jan 29	108	$512/sf	57	91
Feb 5	110	$518/sf	49	100
Feb 12	117	$487/sf	46	106
Feb 19	107	$500/sf	45	114
Feb 26	112	$485/sf	46	117
Mar 5	111	$496/sf	45	115
Mar 12	126	$475/sf	43	109
Mar 19	125	$487/sf	47	129
Mar 26	133	$484/sf	47	124
Apr 2	139	$495/sf	47	121
Apr 9	148	$485/sf	51	119
Apr 16	145	$474/sf	45	114
Apr 23	162	$470/sf	43	117
Apr 30	162	$486/sf	42	121
May 7	180	$495/sf	40	117
May 14	182	$491/sf	41	127
May 21	184	$475/sf	40	135
May 28	188	$473/sf	40	139
Jun 4	189	$469/sf	43	148
Jun 11	199	$469/sf	45	142
Jun 18	193	$465/sf	44	143
Jun 25	211	$476/sf	39	141
Jul 2	206	$483/sf	41	142

The $1,500,000 – $2,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 1	84	$612/sf	86	40
Jan 8	98	$612/sf	73	42
Jan 15	98	$607/sf	73	42
Jan 22	111	$589/sf	63	42
Jan 29	120	$577/sf	61	45
Feb 5	114	$586/sf	56	51
Feb 12	118	$566/sf	52	57
Feb 19	121	$596/sf	53	64
Feb 26	122	$596/sf	53	64
Mar 5	125	$593/sf	56	70
Mar 12	131	$602/sf	53	67
Mar 19	120	$598/sf	58	74
Mar 26	121	$596/sf	57	75
Apr 2	128	$593/sf	55	70
Apr 9	140	$612/sf	54	66
Apr 16	146	$617/sf	50	67
Apr 23	149	$616/sf	53	78
Apr 30	152	$605/sf	60	81
May 7	157	$618/sf	63	85
May 14	158	$614/sf	63	87
May 21	154	$637/sf	54	82
May 28	146	$633/sf	58	80
Jun 4	149	$614/sf	54	76
Jun 11	158	$615/sf	50	83
Jun 18	164	$606/sf	53	77
Jun 25	160	$606/sf	56	73
Jul 2	160	$607/sf	56	69

The $2,000,000+ Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 1	341	$1,021/sf	127	56
Jan 8	356	$1,007/sf	123	49
Jan 15	370	$991/sf	115	48
Jan 22	375	$992/sf	110	47
Jan 29	384	$1,005/sf	109	56
Feb 5	387	$1,005/sf	111	56
Feb 12	379	$1,004/sf	107	63
Feb 19	399	$990/sf	104	69
Feb 26	400	$990/sf	101	75
Mar 5	398	$1,022/sf	97	79
Mar 12	406	$1,017/sf	99	89
Mar 19	430	$1,020/sf	97	79
Mar 26	455	$0/sf	92	71
Apr 2	453	$0/sf	94	67
Apr 9	462	$0/sf	94	66
Apr 16	473	$0/sf	95	66
Apr 23	482	$0/sf	95	70
Apr 30	476	$0/sf	94	74
May 7	486	$0/sf	92	72
May 14	493	$0/sf	91	84
May 21	510	$0/sf	92	79
May 28	504	$0/sf	95	90
Jun 4	488	$0/sf	94	102
Jun 11	502	$0/sf	95	99
Jun 18	524	$0/sf	93	91
Jun 25	525	$0/sf	92	78
Jul 2	516	$0/sf	94	78

Weekly NSDCC New Listings and New Pendings

Week	New Listings	New Pendings	Total Pendings
Jan 1, 2018	18	15
Jan 8	89	31
Jan 15	87	43
Jan 22	87	43
Jan 29	81	48	244
Feb 5	77	53	262
Feb 12	74	53	280
Feb 19	89	55	295
Feb 26	87	57	318
Mar 5	84	62	328
Mar 12	107	61	339
Mar 19	88	59	350
Mar 26	99	55	347
Apr 2	87	66	346
Apr 9	106	58	336
Apr 16	98	54	331
Apr 23	108	67	353
Apr 30	98	70	362
May 7	138	68	355
May 14	99	78	386
May 21	115	63	369
May 28	92	84	387
Jun 4	91	77	410
Jun 11	100	56	401
Jun 18	103	54	376
Jun 25	105	54	358
Jul 2	83	78	361

4 Comments

Jim the Realtor on July 2, 2018 at 8:30 am

The sellers keep adding a little mustard to their list prices, but the buyers have spoken.

No more mustard!
Rob on July 2, 2018 at 11:23 am

There comes a point when one would ask how much they really want to pay for a McMansion with a patio. I’ve noticed some houses have been staying on the market for a long time without dropping the price. A majority of all houses appear to be staged and unoccupied which leads me to believe investors are slowly flooding the market.
Eddie89 on July 2, 2018 at 3:14 pm

Or alternatively, sellers should be spreading French’s Classic Yellow Mustard instead of the Dijon style Grey Poupon Mustard! Don’t be greedy! 🙂
Jim the Realtor on July 2, 2018 at 3:33 pm

LOL – good one Eddie89!