Price reductions on condo listings continues to be the story. The number of new condo listings for the past two weeks is down somewhat compared to the same period a year ago (152 vs. 186 a year ago) but even with fewer new listings the number of price reductions is up (27 compared to 22 a year ago).
The number of single family home new listings is down (93 compared to 121 a year ago). Doing the math, total new listings for the last two weeks was 245 compared to 307 a year ago -- a drop of 20%.
The percentage of new listings going into contract with the two week window held steady at about 17% for single family homes and 16% for condos.