Monday, July 16, 2018

New Listing Market Watch - post Fourth of July

Overall, the number of new listings in the last two weeks was 6% more than the same period last year (257 vs 243).  That's a typical increase/rebound following the Fourth of July holiday.  But look a little closer and you see new listings of single family homes was up 27% compared to the same period last year (and, coincidently, compared to the prior two week period) 116 vs 91.

New listings of condos was down 7% compared to the same period last year (141 vs 152) and virtually the same compared to the prior two week period (141 vs 138).


The number of those new listings that went into contract in the same two week period were about the same as last year for single family homes (11 vs 7) and the prior two week period (11 vs 12).  It's a different story for condos:  more than twice as many new listings went into contract compared to a year ago (15 vs 6)  but less than half compared to the prior period (15 vs 38).



The number of price reductions for single family homes remained at the same level compared to the same period a year ago and the prior period (15 vs 16, and 15 vs 14).  However, the number of price reductions for condos was down significantly compared to a year ago (23 vs 41) and also down compared to the prior period (23 vs 30).



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