New Listing Market Watch - fewer condo price reductions

New listings of single family homes stayed steady during the last two weeks compared to the previous two week period (131 to 128) and the same two week period last year (131 to 138).  On the condo side, new listings were down compared to the previous two week period (142 to 175) and compared to the same two week period last year (142 to 175).

However, the number of those same single family homes that went into contract during the same period is down sharply compared to the previous period (7 vs 24) and compared to the same period a year ago (7 vs 18).  Condos saw 15% of new listings go into contract (the same as the previous period) and up compared to a year ago (10%).

There was an increase in the number of condo price reductions compared to the previous period (27 vs 20) while single family homes stayed virtually the same (17 vs 15).  However, compared to a year ago the number of condo price reductions is down sharply (27 vs 47) while reductions on single family homes rose (17 vs 11).