New Listing Watch -- hold on folks, we're almost at the bottom

Continuing true to form the number of new listings over the past two weeks is at its lowest for the year except for our next report December 31.  There were just 51 new single family home listings compared to 74 in the prior period and compared to 37 at the same time last year.

Similarly there were 41 new condo listings compared to 73 in the prior period.  However, last year at this time there were 61.

The number of new listings going into contract in the same two week period rose for both single family homes and condos compared to the prior period.  There were 14 single family homes vs 8 in the prior period and 12 a year ago.  There wee 6 condos vs 2 in the prior period and 15 a year ago.

The number of price reductions fell compared to the prior period and compared to the same period last year for both single family homes and condos.  There were 15 price reductions for single family homes vs 18 in the prior period and compared to just 1 in the same period last year.  For condos there were 19 price reductions compared to 33 in the prior period and 10 last year.