Bill says that the national inventory bottomed in the beginning of March, but locally the raging demand is picking up the additional choices. This should be a big week for closings, so we’ll see how it balances out next week, but statistically the trend of pendings is about as strong as possible (purple line above).
Let’s also note that the 30-year mortgage rate (with no points) has been over 4.0% for 30 days and the number of pendings keeps climbing.
From Zillow:
https://www.zillow.com/research/zhpe-q1-2022-inventory-returns-30878/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The $0 – $1,500,000 Market:
| Date |
NSDCC Active Listings |
Avg. LP/sf |
Avg. DOM |
# of Pendings |
| Jan 3, 2022 |
9 |
$832/sf |
35 |
36 |
| Jan 10 |
9 |
$766/sf |
28 |
29 |
| Jan 17 |
13 |
$773/sf |
26 |
27 |
| Jan 24 |
9 |
$818/sf |
15 |
29 |
| Jan 31 |
14 |
$752/sf |
14 |
31 |
| Feb 7 |
13 |
$774/sf |
12 |
32 |
| Feb 14 |
11 |
$826/sf |
12 |
35 |
| Feb 21 |
7 |
$889/sf |
17 |
38 |
| Feb 28 |
12 |
$888/sf |
17 |
33 |
| Mar 7 |
9 |
$1,017/sf |
21 |
33 |
| Mar 14 |
14 |
$847/sf |
18 |
31 |
| Mar 21 |
8 |
$912/sf |
26 |
36 |
| Mar 28 |
10 |
$914/sf |
25 |
28 |
The $1,500,000 – $2,000,000 Market:
| Date |
NSDCC Active Listings |
Avg. LP/sf |
Avg. DOM |
# of Pendings |
| Jan 3, 2022 |
8 |
$842/sf |
52 |
36 |
| Jan 10 |
13 |
$751/sf |
28 |
29 |
| Jan 17 |
16 |
$736/sf |
33 |
27 |
| Jan 24 |
16 |
$801/sf |
17 |
27 |
| Jan 31 |
15 |
$696/sf |
14 |
34 |
| Feb 7 |
15 |
$765/sf |
17 |
34 |
| Feb 14 |
10 |
$726/sf |
19 |
38 |
| Feb 21 |
19 |
$715/sf |
15 |
39 |
| Feb 28 |
9 |
$660/sf |
12 |
46 |
| Mar 7 |
16 |
$789/sf |
15 |
46 |
| Mar 14 |
17 |
$837/sf |
8 |
44 |
| Mar 21 |
18 |
$867/sf |
11 |
43 |
| Mar 28 |
14 |
$838/sf |
15 |
48 |
The $2,000,000 – $3,000,000 Market:
| Date |
NSDCC Active Listings |
Avg. LP/sf |
Avg. DOM |
# of Pendings |
| Jan 3, 2022 |
18 |
$1,080/sf |
127 |
43 |
| Jan 10 |
23 |
$1,038/sf |
85 |
37 |
| Jan 17 |
26 |
$1,044/sf |
80 |
41 |
| Jan 24 |
28 |
$1,015/sf |
37 |
42 |
| Jan 31 |
22 |
$949/sf |
38 |
47 |
| Feb 7 |
26 |
$919/sf |
29 |
42 |
| Feb 14 |
22 |
$997/sf |
37 |
49 |
| Feb 21 |
21 |
$966/sf |
33 |
54 |
| Feb 28 |
26 |
$905/sf |
32 |
57 |
| Mar 7 |
29 |
$922/sf |
28 |
57 |
| Mar 14 |
20 |
$852/sf |
26 |
58 |
| Mar 21 |
17 |
$928/sf |
26 |
60 |
| Mar 28 |
34 |
$927/sf |
12 |
65 |
The $3,000,000 – $4,000,000 Market:
| Date |
NSDCC Active Listings |
Avg. LP/sf |
Avg. DOM |
# of Pendings |
| Jan 3, 2022 |
19 |
$1,230/sf |
90 |
26 |
| Jan 10 |
22 |
$1,210/sf |
76 |
25 |
| Jan 17 |
19 |
$1,207/sf |
86 |
23 |
| Jan 24 |
17 |
$1,129/sf |
92 |
24 |
| Jan 31 |
21 |
$1,172/sf |
70 |
22 |
| Feb 7 |
19 |
$1,169/sf |
67 |
25 |
| Feb 14 |
19 |
$1,234/sf |
65 |
28 |
| Feb 21 |
21 |
$1,279/sf |
69 |
28 |
| Feb 28 |
22 |
$1,214/sf |
64 |
25 |
| Mar 7 |
27 |
$1,295/sf |
60 |
24 |
| Mar 14 |
27 |
$1,201/sf |
65 |
27 |
| Mar 21 |
23 |
$1,282/sf |
69 |
31 |
| Mar 28 |
25 |
$1,253/sf |
67 |
30 |
The $4,000,000+ Market:
| Date |
NSDCC Active Listings |
Avg. LP/sf |
Avg. DOM |
# of Pendings |
| Jan 3, 2022 |
100 |
$1,884/sf |
128 |
30 |
| Jan 10 |
105 |
$1,864/sf |
113 |
29 |
| Jan 17 |
109 |
$1,763/sf |
110 |
34 |
| Jan 24 |
105 |
$2,130/sf |
114 |
42 |
| Jan 31 |
102 |
$2,114/sf |
118 |
53 |
| Feb 7 |
109 |
$2,000/sf |
108 |
50 |
| Feb 14 |
108 |
$2,005/sf |
109 |
47 |
| Feb 21 |
113 |
$2,008/sf |
103 |
43 |
| Feb 28 |
111 |
$1,991/sf |
101 |
47 |
| Mar 7 |
115 |
$1,904/sf |
91 |
39 |
| Mar 14 |
121 |
$1,893/sf |
95 |
43 |
| Mar 21 |
116 |
$1,905/sf |
97 |
44 |
| Mar 28 |
104 |
$1,966/sf |
97 |
59 |
NSDCC Weekly New Listings and New Pendings
| Week |
New Listings |
New Pendings |
Total Actives |
Total Pendings |
| Jan 3, 2022 |
17 |
14 |
152 |
164 |
| Jan 10 |
39 |
18 |
167 |
142 |
| Jan 17 |
34 |
29 |
179 |
145 |
| Jan 24 |
41 |
40 |
173 |
157 |
| Jan 31 |
43 |
40 |
173 |
182 |
| Feb 7 |
43 |
38 |
179 |
179 |
| Feb 14 |
44 |
49 |
168 |
193 |
| Feb 21 |
51 |
38 |
180 |
197 |
| Feb 28 |
39 |
39 |
179 |
205 |
| Mar 7 |
54 |
37 |
191 |
195 |
| Mar 14 |
48 |
51 |
195 |
196 |
| Mar 21 |
39 |
46 |
178 |
207 |
| Mar 28 |
53 |
50 |
185 |
224 |
