New Listing Market Watch -- Summer downturn has begun

As anticipated, new listings dropped during the past two weeks. New single family home listings were 91 compared to 154 in the previous two week period.  Similarly, new condo listings dropped to 138 compared to 207 in the prior period.

However, compared to a year ago new listings are higher for both single family homes (91 vs 62) and condos (138 vs 96).

As might be expected, the percentage of new listings that went into contract during the same two week period went up slightly to 13% vs 12% during the prior two week period.  For condos the increase was more sizable:  28% vs 15%.

The number of price reductions has remained basically unchanged at 14 for single family homes compared to both the prior period and a year ago.  Similarly for condos the number of price reductions was 30 compared to 37 during the prior period and 31 a year ago.

The full report can be seen at our web site:  www.boldsf.com/Statistics

And, our little hibiscus plant in the front window has been blooming it's head off.