Monday, November 21, 2016

New Listing Market Watch - heading to the holidays

Key takeaways from today's New Listing Market Watch (comparison are between the last two week period and the same period a year ago):

  • approximately the same number of new listings during the last two weeks compared to the same period a year ago (177 vs 168).  If normal trends hold, we will see fewer and fewer new listings until early 2017;  

  • a third fewer of the new listing single family homes went into contract (17 vs 10) compared to a year ago (13.3% vs 21.0%);
  • although there were 17% more condo listings during the last two weeks than a year ago (102 vs 87), about the same percentage went into contract (20.7% vs 17.6%);
  • there was a more than 50% increase in the number of condo price reductions (46 vs 30) and a 46% increase in price reductions for single family homes (19 vs 13).

The full report (and the other reports we publish) is available at our web site:

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