New Listing Market Watch - marking time waiting for Labor Day

Total new listings during the last two weeks is up slightly compared to the same period a year ago (209 vs 200) but down significantly compared to the prior two weeks.(209 vs 244).

The number of those new listings that went into contract in the same two week period stayed mostly the same as the prior period for single family homes (11.7% vs 10.3%) but down for condos (14.8% vs 18.0%).  However, the percentage of new listings going into contract within the same two week period during the last two weeks was significantly higher than during the same period a year ago (11.7% vs 4.3% for single family homes and 14.8% vs 2.8% for condos).

The total number of price reductions during the last week is virtually identical to the prior period and compared to the same period last year (33 vs 32 vs 33) although the split between single family homes and condos.  Most notably, there is a sharp difference comparing single family home price reductions during the most recent two week period and the same period a year ago (13 vs 4).

All of this is consistent with normal seasonal patterns.  The next two week period should be similar to this period but the period following Labor Day should show a significant increase in new listings.

The full report along with our other current reports is available at our web site:  www.boldsf.com/Statistics