- Tom BrezsnyTHIS Market is Not THAT Market Part 3
Continuing the conversation…talking about how THIS market (as of September 2025) is no longer THAT market (as in the all-time peak in 2021-2022 when the market reached a heartpounding intensity and prices rose to record-setting highs).
And also, the one that a lot of current sellers are clinging to as justification for the aspirational prices they’re offering their new listings at. Even if, in doing so, they are actually hastening the very demise of the market they are trying to avoid, by adding a growing number of overpriced listings to the ranks of properties sitting unsold.
Make no mistake, as much as some might want to believe that THIS market is THAT market, it just ain’t so Joe. This market is different in just about every way possible, except for the last domino that always falls at the end – prices. Contrary to popular belief, price drops aren’t leading indicators that create more days on market (DOMs) and more active listings, they are the result.
By the way, the MLS didn’t do us any favors this past year, by allowing a glitch in their algorithms to persist, that let agents cancel listings that were sitting too long and then put them right back on the market so that they looked like brand new listings. Tricking the system by resetting DOMs succeeded in skewing all the data about days on market and months of supply and helped to disguise the shift that was already in the works.
For anyone still insisting that THIS market is THAT market, here’s a quick comparison between the crazy peak of 2021/2022 and our most recent stats:
# Active Listings: At the peak, the average number of active listings on the market was running right around 100. Right now there are 550.
Months of Inventory: At the peak, based on the rate that properties were selling at, we were averaging less than 1 month’s supply. Right now we have a little over 4 month’s supply.
Days on Market (DOM): At the peak, average DOMs got down as low as 15 days. Right now, properties are on the market for an average of 50 days.
Sale Price % of List Price: At the peak, properties were selling at 109% of their list prices. In recent days they’re selling for 94% of their list price.
# of Sales: We ended 2021 with a total of 1935 single family home sales in SC County. In 2023 the total was 1099 and in 2024 it was 1182. So far we’ve seen 943 sales in 2025, heading into what are traditionally our slowest months.
Next Week: How to Adapt to a Changing Market….
