The local market isn’t at the frenzy level, but can we at least call it stable?
Last month there were 18% of the sales that closed over their list price. There were 41% of the sales that closed for at least $100,000 under their list price. If roughly 60% of the sales are getting close to their list price or over, then I think that feels like a fairly balanced market.
For the last five months in a row, the year-over-year monthly sales have been higher! The average and median pricing look stable too.
NSDCC Average and Median Prices
Once we get past the Super Bowl, the market should really get cooking! Last February, the over-list percentage was 30%, and then March was the high point for 2024 with 44%. I doubt we will hit either one of those again this year, and I’ll just settle for more YoY sales for the sixth month in a row.
