Sold vs Listings GROWTH: Who’s Hot, Who’s Cooling, and Who’s Turning Around
- Dennis Lee
- Sep 8
- 2 min read
Markets aren’t just about where they are today — it’s about how fast they’re shifting. A city that looks cold on the surface might be heating up underneath, while a “hot” market could already be running out of steam. By combining current levels with year-over-year growth, we can see which metros are really on the move.
In my previous newsletter post, I compared Sold Units (transactions) and Current Listing Units (inventory) purely based on Current levels.
💡 Then Scholastica D. Cororaton, CBE, CRE suggested a more interesting angle:
“What if we look at YoY % change rather than just Current levels?”
Basically → “How much has sold vs how much inventory is available” from both levels and percentage changes.
Based on YoY % Quadrant:
🔵 Q1 (High demand, High supply growth)
Dallas, Phoenix, Orlando, Nashville
Sales + listings both strong → hot markets 🔥
🟢 Q2 (Low demand, High supply growth)
Houston, Austin, San Antonio, Boston
Supply keeps rising, demand lagging → oversupply vibes
🔴 Q3 (Low demand, Low supply growth)
Philadelphia, Detroit, Minneapolis, Pittsburgh, Providence
Market activity quiet → low-growth / sleepy zone 😴
⚫ Q4 (High demand, Low supply growth)
San Francisco, Charlotte, Portland, Indianapolis
Demand solid but supply thin → inventory squeeze → price pressure 💸
Key Shifts (YoY % → Current):
1. Still on 🔥 (Q1 → Q1)
Dallas, Phoenix, Orlando, Nashville → persistent overheating
Both YoY % and Current levels remain strong → momentum and absolute levels are hot
2. Cooling Off 🧊 (Q1 → Q2 / Q3)
Dallas, Phoenix, Orlando, Nashville → persistent overheating
Both YoY % and Current levels remain strong → momentum and absolute levels are hot
3. The Comebacks 🚀 (Q2 / Q3 / Q4 → Q1)
Dallas, Phoenix, Orlando, Nashville → persistent overheating
Both YoY % and Current levels remain strong → momentum and absolute levels are hot
👉 Looking at Sold vs Listings with both levels + YoY % change makes the market picture way more dynamic.
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Dennis Lee
CEO at Market Stadium
Prev. Lionstone Investments Research Team
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