New Listing Watch -- typical end of year drop off

The number of new listings during the two weeks ending December 3rd (which included Thanksgiving) was down from the prior two week period (147 vs 189) and just about even with last year (147 vs 141).

Only 8 single family homes were newly listed in the last two weeks, the same as a year ago and down from 21 during the prior period.  New condo listings were down compared to the prior two weeks (73 vs 112) and down compared to a year ago (73 vs 81).

The percentage of new listings going into contract during the same two week period was down as expected.  For single family homes only 11% went into contract compared to 27% during the prior two week period and compared to 13% a year ago.  For condos, 3% went into contract compared to 13% during the prior period and compared to 21% a year ago.

Also as expected the number of price reductions was down compared to the prior two week period.  However, compared to last year the number of reductions was up for both single family homes (18 vs 5) and condos (33 vs 18).

If this year follows recent trends (and we don't see any reason it won't), new listings will continue to drop until the second week of the new year (see the first graph above).

As always, the full report is available on our web site:  www.boldsf.com/Statistics