Monday, January 30, 2017

New Listing Watch - one month into the new year

As expected new listings continued to increase in during the previous two weeks -- 267 compared to 244 in the previous two week period.  Most of that increase was in condominiums which showed 176 new listings compared to 155 for the prior period.  Of the 91 new single family home listings, 20 went into contract indicating very strong demand.  Of the 176 condo new listings, 21 went into contract, about the same as the prior period.

A year ago during the same two week period there were 218 new listings.

Price reductions on single family homes were almost non-existent.  12 condos posted price reductions, about the same as during the previous period and compared to the same period last year.

Wednesday, January 18, 2017

New Listing Watch

Well, we skipped posting about the two weeks preceding January 2 because there wasn't much to report (and holidays).  The last two weeks of December routinely see the smallest number of new listings of any two week period and this year (last year) was no exception.

But now that's out of the way, things begin to pickup right away.  During the two week period ending January 16 there were 89 new listings of single family homes and 155 condos compared to 91 and 138 respectively during the same period a year ago.

There was only one price reduction of single family homes and 15 price reductions of condos.

As we've seen during most of 2016, price reductions of condos are outpacing those of a year ago and it looks like that trend will continue into 2017.

Almost 17% of the single family home new listings went into contract during the same period (compared to 11% a year ago) but that's consistent with the pace we were experiencing since roughly the beginning of November.   14% of condos went into contract (compared to 17% last year).  

Although the percentage of new listing going into contract dropped considerably compared to the prior period that's mostly a function of so few new listings.

The full report can be found at our web site: