Monday, July 16, 2018

New Listing Market Watch - post Fourth of July

Overall, the number of new listings in the last two weeks was 6% more than the same period last year (257 vs 243).  That's a typical increase/rebound following the Fourth of July holiday.  But look a little closer and you see new listings of single family homes was up 27% compared to the same period last year (and, coincidently, compared to the prior two week period) 116 vs 91.

New listings of condos was down 7% compared to the same period last year (141 vs 152) and virtually the same compared to the prior two week period (141 vs 138).


The number of those new listings that went into contract in the same two week period were about the same as last year for single family homes (11 vs 7) and the prior two week period (11 vs 12).  It's a different story for condos:  more than twice as many new listings went into contract compared to a year ago (15 vs 6)  but less than half compared to the prior period (15 vs 38).



The number of price reductions for single family homes remained at the same level compared to the same period a year ago and the prior period (15 vs 16, and 15 vs 14).  However, the number of price reductions for condos was down significantly compared to a year ago (23 vs 41) and also down compared to the prior period (23 vs 30).



Saturday, July 7, 2018

The Missing Piece in Electronic Signing for Real Estate Transactions

Below is a link to a blog post by a company (new to me) called "Notarize".  They have created a system to facilitate on-line signing and notarizing of documents -- "notarizing" being the operative word.

Although we've been able to do listing and selling of real estate with electronically signed documents for some time, the missing piece has been the final closing documents, including loan documents, that traditionally are signed in person at the escrow/title office.

It's not clear whether electronic signing of loan documents is or will be acceptable to lenders and/or county recorders.

But it seems inevitable that's the direction we're headed.





Friday, July 6, 2018

New Listing Market Watch -- Summer downturn has begun

As anticipated, new listings dropped during the past two weeks. New single family home listings were 91 compared to 154 in the previous two week period.  Similarly, new condo listings dropped to 138 compared to 207 in the prior period.

However, compared to a year ago new listings are higher for both single family homes (91 vs 62) and condos (138 vs 96).


As might be expected, the percentage of new listings that went into contract during the same two week period went up slightly to 13% vs 12% during the prior two week period.  For condos the increase was more sizable:  28% vs 15%.


The number of price reductions has remained basically unchanged at 14 for single family homes compared to both the prior period and a year ago.  Similarly for condos the number of price reductions was 30 compared to 37 during the prior period and 31 a year ago.

The full report can be seen at our web site:  www.boldsf.com/Statistics

And, our little hibiscus plant in the front window has been blooming it's head off.




Monday, June 18, 2018

New Listing Report -- more this June than last year

The number of new listings during the past two weeks jumped 20% compared to the prior two week period and compared to the same period last year (361 vs 301 in the prior period and vs 303 in the same period last year.


The increase compared to the prior period was mostly in single family homes (154 vs 114, 35%).  In condos the increase was smaller (207 vs 187, 11%).

Compared to the prior period the number of new listings going into contract during the past two weeks was down slightly for both single family homes (12% vs 15%) and condos (14.5% vs 15%).  Compared to the same period a year ago the percentage that went into contract were up significantly (11.7% vs 2.3% of single family homes and 14.5% vs 5.9% of condos).



The number of price decreases during the last two weeks is virtually the same as the prior period for single family homes (15 vs 14) but up for condos (37 vs 27). 



The entire report can be seen at our web site: www.boldsf.com/Statistics

Monday, June 4, 2018

New Listing Report - fewer new listings and fewer price reductions

For the two weeks ending 6/5/18 the total number of new listings was less than the previous two weeks (301 vs 355) but slightly more than the same time last year (301 vs 287).  This is fairly typical for this time of year.



The drop in new listings compared to the previous period was in both single family homes (114 vs 145) and condos (187 vs 210). 

The percentage of new listings that went into contract within the same two week period dropped by almost 2% for single family homes but increased slightly for condos compared to the previous period.  But those percentages were higher than a year ago.



The number of price reductions is also down for both single family homes and condos compared to the prior period and compared to a year ago.


The full report can be found at our website:  www.boldsf.com/Statistics