Tuesday, October 13, 2015

New Listing Watch - Two Weeks Ending 10/12/2015

The total number of new listings continues to keep pace with a year ago but the split between single family homes and condos has changed.  This year there are more condos (213) than single family homes (152) that came on the market in the last two weeks.  Last year the numbers were reversed with more single family homes than condos.

New listings going into contract is up for both single family homes (8.6%) and condos (15.0%) after being in single digit percentages for the previous two reports.

Another change from the previous two reporting periods to note is the uptick in price reductions.  The number of condo price reductions was 41 -- the highest we've seen in a long time.  There are obviously some motivated sellers out there who, apparently want to sell before the end of year holiday doldrums kick in.

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