New Listing Watch - back to normal?

The number of new listings during the past two weeks was virtually identical to the same period a year ago.  There were 124 new listings for single family homes vs 111 a year ago.  There were 165 new listings of condos compared to 171 a year ago.

Compared to the prior two week period there was a significant drop which is typical for this time of year:  124 vs 164 for single family homes and 165 vs 209 for condos.

The percentage of new listings that went into contract in the same two week period is up compared to the prior period (slightly for single family homes, 10.5% vs 9.8%; and more substantially for condos: 10.9% vs 6.2%).

However, the number of price reductions in the last two weeks maintains the trend over the past two months -- much higher numbers than a year ago.  There were 33 price reductions of single family homes compared to 18 a year ago.  There were 58 reductions on condos compared to 35 a year ago.

The full report can be found at our web site:  www.boldsf.com