It looks like we are beyond the worst of it, and we’re on our way…..as long as rates stay in the low-3s and nothing really bad happens for the next 2-3 months.

The active and pendings counts have been rising steadily for four weeks, so we can say that the bottom was in mid-April. Here are the weekly numbers for the last two months:

Weekly NSDCC New Listings and New Pendings

Week	New Listings	New Pendings	Total Pendings
Mar 16	83	55	329
Mar 23	59	31	289
Mar 30	63	31	251
Apr 6	57	21	219
Apr 13	48	17	194
Apr 20	63	29	192
Apr 27	79	40	205
May 4	86	40	208
May 11	91	48	226

There is some concern in the Over-$3,000,000 category. The active inventory jumped +7% this week, and now there are 252 houses for sale, and 23 pendings. But nothing new there!

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 7	72	$469/sf	55	49
Jan 14	78	$487/sf	49	48
Jan 21	82	$488/sf	49	49
Jan 28	68	$480/sf	53	64
Feb 4	72	$483/sf	53	69
Feb 11	75	$481/sf	45	74
Feb 18	67	$482/sf	46	76
Feb 25	67	$494/sf	47	67
Mar 4	82	$478/sf	38	64
Mar 11	90	$471/sf	36	65
Mar 18	95	$475/sf	37	69
Mar 25	98	$463/sf	36	72
Apr 1	94	$462/sf	38	71
Apr 8	91	$455/sf	42	75
Apr 15	93	$463/sf	42	75
Apr 22	94	$481/sf	44	78
Apr 29	99	$469/sf	43	84
May 6	106	$466/sf	38	81
May 13	102	$470/sf	38	78
May 20	112	$453/sf	31	79
May 27	110	$464/sf	34	80
Jun 3	113	$469/sf	33	84
Jun 10	109	$463/sf	36	88
Jun 17	109	$465/sf	35	89
Jun 24	105	$474/sf	37	84
Jul 1	96	$474/sf	38	79
Jul 8	89	$472/sf	46	85
Jul 15	100	$490/sf	43	82
Jul 22	94	$494/sf	44	84
Jul 29	97	$493/sf	44	78
Aug 5	99	$490/sf	43	69
Aug 12	101	$482/sf	39	65
Aug 19	103	$487/sf	39	64
Aug 26	106	$476/sf	44	59
Sep 2	96	$471/sf	48	59
Sep 9	88	$477/sf	48	59
Sep 16	94	$474/sf	41	56
Sep 23	86	$467/sf	46	56
Sep 30	84	$467/sf	50	58
Oct 7	80	$487/sf	44	56
Oct 14	82	$478/sf	44	54
Oct 21	70	$470/sf	47	57
Oct 28	66	$458/sf	44	52
Nov 4	60	$460/sf	40	50
Nov 11	71	$462/sf	44	56
Nov 18	72	$472/sf	36	59
Nov 25	66	$473/sf	39	61
Dec 2	57	$481/sf	43	58
Dec 9	58	$458/sf	38	48
Dec 16	51	$458/sf	43	51
Dec 23	46	$463/sf	46	49
Dec 30	45	$460/sf	48	43
Jan 6	40	$453/sf	51	40
Jan 13	41	$483/sf	48	42
Jan 20	37	$467/sf	51	51
Jan 27	36	$462/sf	46	51
Feb 3	30	$464/sf	51	52
Feb 10	29	$459/sf	39	59
Feb 17	31	$451/sf	37	60
Feb 24	35	$470/sf	32	57
Mar 2	23	$454/sf	42	54
Mar 9	23	$473/sf	32	62
Mar 16	30	$476/sf	31	59
Mar 23	32	$486/sf	33	55
Mar 30	40	$475/sf	32	44
Apr 6	40	$476/sf	32	34
Apr 13	45	$486/sf	31	32
Apr 20	51	$500/sf	30	34
Apr 27	49	$485/sf	31	43
May 4	59	$477/sf	33	38
May 11	64	$485/sf	34	43

The $1,000,000 – $1,500,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 7	154	$497/sf	58	69
Jan 14	158	$489/sf	54	65
Jan 21	161	$503/sf	55	56
Jan 28	169	$489/sf	52	60
Feb 4	167	$502/sf	50	69
Feb 11	157	$504/sf	51	84
Feb 18	168	$494/sf	47	83
Feb 25	175	$494/sf	49	84
Mar 4	174	$507/sf	44	86
Mar 11	175	$501/sf	44	91
Mar 18	194	$526/sf	43	99
Mar 25	189	$510/sf	44	104
Apr 1	188	$513/sf	45	107
Apr 8	215	$512/sf	45	104
Apr 15	211	$515/sf	46	108
Apr 22	201	$513/sf	49	117
Apr 29	193	$507/sf	49	128
May 6	211	$506/sf	49	121
May 13	201	$497/sf	52	131
May 20	207	$507/sf	48	129
May 27	198	$513/sf	49	133
Jun 3	197	$510/sf	51	129
Jun 10	204	$511/sf	50	129
Jun 17	198	$506/sf	55	117
Jun 24	192	$510/sf	55	120
Jul 1	198	$503/sf	56	119
Jul 8	186	$512/sf	58	123
Jul 15	191	$504/sf	57	126
Jul 22	189	$498/sf	57	125
Jul 29	192	$494/sf	56	120
Aug 5	186	$498/sf	52	119
Aug 12	180	$486/sf	52	114
Aug 19	179	$493/sf	50	127
Aug 26	183	$518/sf	45	120
Sep 2	184	$517/sf	46	105
Sep 9	182	$508/sf	48	105
Sep 16	188	$515/sf	47	100
Sep 23	185	$530/sf	46	93
Sep 30	179	$532/sf	49	95
Oct 7	179	$533/sf	50	97
Oct 14	171	$546/sf	55	94
Oct 21	165	$551/sf	55	99
Oct 28	160	$545/sf	54	103
Nov 4	151	$541/sf	53	103
Nov 11	147	$545/sf	57	104
Nov 18	142	$563/sf	58	103
Nov 25	133	$583/sf	60	109
Dec 2	125	$559/sf	64	108
Dec 9	122	$567/sf	63	95
Dec 16	111	$566/sf	62	90
Dec 23	98	$594/sf	66	81
Dec 30	94	$597/sf	70	70
Jan 6	89	$615/sf	67	72
Jan 13	93	$598/sf	65	71
Jan 20	87	$612/sf	66	73
Jan 27	93	$589/sf	59	65
Feb 3	96	$576/sf	54	65
Feb 10	94	$559/sf	62	84
Feb 17	80	$542/sf	64	100
Feb 24	90	$530/sf	61	97
Mar 2	93	$529/sf	56	91
Mar 9	100	$537/sf	46	98
Mar 16	101	$521/sf	44	105
Mar 23	111	$522/sf	44	90
Mar 30	114	$528/sf	43	75
Apr 6	115	$528/sf	50	69
Apr 13	116	$525/sf	48	58
Apr 20	118	$539/sf	52	57
Apr 27	121	$538/sf	48	64
May 4	122	$524/sf	50	72
May 11	128	$519/sf	46	77

The $1,500,000 – $2,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Jan 7	108	$628/sf	86	33
Jan 14	107	$647/sf	83	37
Jan 21	113	$665/sf	77	39
Jan 28	116	$676/sf	76	42
Feb 4	125	$665/sf	73	41
Feb 11	131	$670/sf	72	43
Feb 18	132	$674/sf	71	49
Feb 25	130	$670/sf	66	53
Mar 4	134	$677/sf	59	59
Mar 11	143	$674/sf	57	53
Mar 18	143	$649/sf	56	67
Mar 25	133	$642/sf	56	66
Apr 1	131	$621/sf	53	69
Apr 8	139	$618/sf	49	77
Apr 15	149	$630/sf	50	75
Apr 22	145	$616/sf	50	72
Apr 29	148	$605/sf	49	77
May 6	157	$606/sf	48	74
May 13	159	$599/sf	47	72
May 20	170	$612/sf	48	73
May 27	165	$595/sf	50	79
Jun 3	172	$607/sf	52	70
Jun 10	181	$604/sf	52	70
Jun 17	186	$610/sf	56	69
Jun 24	197	$616/sf	56	59
Jul 1	195	$600/sf	58	65
Jul 8	191	$610/sf	58	71
Jul 15	194	$601/sf	58	69
Jul 22	189	$608/sf	58	74
Jul 29	194	$606/sf	60	73
Aug 5	203	$614/sf	61	67
Aug 12	207	$612/sf	64	65
Aug 19	199	$596/sf	64	79
Aug 26	200	$598/sf	64	79
Sep 2	203	$614/sf	62	69
Sep 9	195	$600/sf	66	73
Sep 16	198	$596/sf	66	65
Sep 23	197	$590/sf	68	75
Sep 30	191	$596/sf	68	74
Oct 7	184	$608/sf	70	77
Oct 14	177	$608/sf	61	79
Oct 21	177	$600/sf	62	71
Oct 28	177	$580/sf	61	67
Nov 4	170	$595/sf	62	67
Nov 11	162	$590/sf	66	71
Nov 18	150	$602/sf	69	70
Nov 25	141	$605/sf	69	74
Dec 2	130	$600/sf	69	73
Dec 9	134	$618/sf	65	63
Dec 16	126	$620/sf	70	59
Dec 23	125	$612/sf	77	53
Dec 30	113	$627/sf	79	62
Jan 6	113	$605/sf	71	57
Jan 13, 2020	113	$664/sf	67	59
Jan 20	113	$658/sf	61	50
Jan 27	103	$654/sf	66	59
Feb 3	104	$664/sf	60	59
Feb 10	110	$667/sf	54	62
Feb 17	111	$650/sf	55	72
Feb 24	110	$634/sf	60	76
Mar 2	115	$644/sf	51	77
Mar 9	121	$665/sf	50	80
Mar 16	125	$665/sf	49	79
Mar 23	119	$665/sf	52	70
Mar 30	126	$660/sf	51	59
Apr 6	130	$650/sf	51	56
Apr 13	132	$646/sf	56	49
Apr 20	138	$658/sf	53	47
Apr 27	157	$668/sf	53	47
May 4	151	$665/sf	59	53
May 11	150	$650/sf	63	60

The $2,000,000 – $3,000,000 Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Dec 30, 2019	161	$744/sf	106	33
Jan 6, 2020	147	$756/sf	97	31
Jan 13, 2020	149	$755/sf	94	27
Jan 20, 2020	150	$749/sf	89	27
Jan 27, 2020	154	$738/sf	91	29
Feb 3, 2020	162	$745/sf	86	33
Feb 10, 2020	169	$753/sf	83	33
Feb 17, 2020	166	$735/sf	81	43
Feb 24, 2020	155	$737/sf	86	58
Mar 2, 2020	156	$731/sf	78	55
Mar 9, 2020	157	$726/sf	78	61
Mar 16, 2020	166	$736/sf	75	57
Mar 23, 2020	167	$730/sf	79	45
Mar 30, 2020	163	$734/sf	80	44
Apr 6, 2020	153	$771/sf	81	37
Apr 13, 2020	159	$765/sf	78	33
Apr 20, 2020	153	$773/sf	80	37
Apr 27, 2020	156	$761/sf	82	29
May 4, 2020	165	$756/sf	77	24
May 11, 2020	162	$772/sf	77	27

The $3,000,000+ Market:

Date	NSDCC Active Listings	Avg. LP/sf	Avg. DOM	# of Pendings
Dec 30, 2019	267	$1,226/sf	144	28
Jan 6, 2020	246	$1,218/sf	138	29
Jan 13, 2020	256	$1,173/sf	133	28
Jan 20, 2020	261	$1,158/sf	128	27
Jan 27, 2020	258	$1,163/sf	128	27
Feb 3, 2020	258	$1,162/sf	127	32
Feb 10, 2020	259	$1,172/sf	124	37
Feb 17, 2020	265	$1,140/sf	118	36
Feb 24, 2020	268	$1,150/sf	120	39
Mar 2, 2020	267	$1,119/sf	121	37
Mar 9, 2020	276	$1,118/sf	119	38
Mar 16, 2020	276	$1,116/sf	118	40
Mar 23, 2020	256	$1,142/sf	128	40
Mar 30, 2020	244	$1,150/sf	131	40
Apr 6, 2020	231	$1,168/sf	129	28
Apr 13, 2020	230	$1,183/sf	132	25
Apr 20, 2020	224	$1,165/sf	138	26
Apr 27, 2020	221	$1,197/sf	137	22
May 4, 2020	235	$1,194/sf	131	25
May 11, 2020	252	$1,173/sf	129	23

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
Jul 9	74	50	342
Jul 16	109	83	361
Jul 23	101	54	357
Jul 30	97	67	364
Aug 6	101	60	349
Aug 13	103	54	350
Aug 20	89	58	334
Aug 27	83	46	325
Sep 3	80	59	312
Sep 10	83	46	302
Sep 17	91	53	305
Sep 24	85	41	296
Oct 1	95	47	302
Oct 8	93	55	307
Oct 15	84	40	291
Oct 22	101	51	298
Oct 29	69	55	299
Nov 5	75	49	293
Nov 12	82	43	284
Nov 19	59	42	282
Nov 26	33	27	270
Dec 3	67	45	264
Dec 10	66	37	247
Dec 17	34	37	231
Dec 24	29	37	212
Dec 31	12	20	211
Jan 7, 2019	92	24	203
Jan 14	81	35	205
Jan 21	77	33	196
Jan 28	87	47	217
Feb 4	92	45	233
Feb 11	83	48	255
Feb 18	84	52	263
Feb 25	72	39	261
Mar 4	113	52	267
Mar 11	122	63	284
Mar 18	100	64	302
Mar 25	95	70	324
Apr 1	87	53	331
Apr 8	113	58	342
Apr 15	104	59	341
Apr 22	94	67	353
Apr 29	117	74	367
May 6	113	67	364
May 13	86	48	362
May 20	132	55	357
May 27	100	78	375
Jun 3	109	55	365
Jun 10	106	54	366
Jun 17	94	59	363
Jun 24	97	63	344
Jul 1	89	53	343
Jul 8	81	66	363
Jul 15	115	59	364
Jul 22	89	72	367
Jul 29	102	47	354
Aug 5	102	47	336
Aug 12	96	51	328
Aug 19	89	61	350
Aug 26	86	40	326
Sep 2	67	44	300
Sep 9	75	52	305
Sep 16	102	46	296
Sep 23	67	59	301
Sep 30	68	56	306
Oct 7	76	44	305
Oct 14	78	51	302
Oct 21	71	49	296
Oct 28	76	55	291
Nov 4	87	54	283
Nov 11	61	52	291
Nov 18	69	50	288
Nov 25	60	57	303
Dec 2	19	34	297
Dec 9	58	29	261
Dec 16	45	40	251
Dec 23	32	37	232
Dec 30	16	26	226
Jan 6	56	21	218
Jan 13	76	33	214
Jan 20	71	53	217
Jan 27	62	38	220
Feb 3	75	46	232
Feb 10	97	72	265
Feb 17	82	58	300
Feb 24	70	53	316
Mar 2	79	55	301
Mar 9	106	66	328
Mar 16	83	55	329
Mar 23	59	31	289
Mar 30	63	31	251
Apr 6	57	21	219
Apr 13	48	17	194
Apr 20	63	29	192
Apr 27	79	40	205
May 4	86	40	208
May 11	91	48	226

1 Comment

Jim the Realtor on May 11, 2020 at 9:01 am

While there is no hard data yet, anecdotally, real estate agents say they are seeing more apartment renters now hunting for single-family homes. Where that supply exists, the demand has not exactly waned, just postponed.

Compass, a real estate brokerage, said the average number of its listings going under contract bottomed on April 12 and were down 40% from the average before the shelter-in-place orders began in March. By April 20, Compass saw the average number of contracts back to where they were before the shutdown. By the end of April, contracts were 24% higher than before the shutdown, and up 64% from the April 12 bottom.

A lot of potential buyers have been shopping online, using new virtual technology. Real estate agents have offered “live” showings, where they will walk around the house while the buyer watches and asks questions over a smartphone or tablet. Some agents have offered solo showings of empty homes, giving the buyer a code to open the lock box. As states reopen, however, more buyers are clearly ready to come out.

“I guess we looked on Zillow, but ultimately we really like to see things in the field,” said Mike Elmers, who toured the Atlanta home with his wife Anna. “You just can’t get an impression from a camera, like this house is really beautiful, and there are so many aspects you wouldn’t realize if you weren’t actually viewing the home in person.”

https://www.cnbc.com/2020/05/11/coronavirus-as-states-reopen-homebuyers-rush-back-out.html

Inventory Watch – Market Has Turned

1 Comment

Jim Klinge

Klinge Realty Group

Broker-Associate, Compass

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