Today we wrap up the 50-week look at the number of NSDCC active and pending listings for 2023 (above). Last year's market was the only one that was somewhat comparable to this year, so here's how 2022 looked for the same 50 weeks: Second week of December, 2022: 329...
Last week, I speculated whether we will see a nice increase next year in the number of homes for sale. Rising inventory has been happening around the country....but not here, at least not yet: But the NSDCC market today looks a lot like it did last year, which...
While a surge in inventory next year would help to change the market dynamics, there isn't any hard evidence of it happening yet: How many would be considered a surge? If the number of new listings rose 10% or even 20%, would anyone notice? Probably not. Using these...
The local market will wind up the year with the lowest number of annual listings ever, the fewest number of annual sales ever, the highest prices ever (the latest Case-Shiller Index released tomorrow), and we'll enter the new year with the fewest number of active...
Historically, when home prices went up, more people would list their house for sale to cash in. But now it's the opposite: NSDCC Number of Detached-Home Listings Jan 1 to Oct 31 Year # of Listings % YoY diff Median LP % YoY diff 2018 4,404 - $1,499,000 - 2019 4,341...
The percentage change in Active Listings between the first week of October and mid-November: 2018: -3% 2019: -11% 2020: -12% 2021: -18% 2022: -0- 2023: -4% It looks like the sellers are hanging around a while longer to see if November might be their lucky month. Only...
Though the industry is reeling from the controversial lawsuit verdict last week, new listings and new sales keep happening every day - people want and need to move, thankfully. We are too close to the end of the year to have any violent swings in the market. Anything...
How does the current inventory of homes for sale compare to previous counts? NSDCC Active Inventory, Last Week of October: 2016: 962 2017: 805 2018: 1,000 2019: 909 2020: 590 2021: 277 2022: 399 2023: 371 They say you can't predict the future, but let's give it a go....
The NSDCC median list price has been around $3,995,000 all year, and has been stuck there for the last three months. Homes listed above $4,000,000 tend to be custom homes which are harder to price, and their sellers tend to be more affluent and will want to test the...
Recently the president of the local association of realtors was asked what the real estate market will do in the future. His response: "Nobody knows what the market is going to do in the future". Of course, immediately after that comment he said, "Interest rates have...
