New Listing Market Watch -- Fall Surge, second installment

All  you need to know is that everything is up 10-15% compared to a year ago, although it's a little more nuanced than that.

During the past two weeks there were 505 new listings of single family homes and condos compared to the same period last year -- up 10%.  Compared to the prior period total new listings were up 15%.  Most of this increase was in condos -- 313 vs 272 a year ago and vs 267 in the prior period.

Price reductions were also up compared to both the same period last year and the previous period this year.  There were 31 price reductions of single family homes, 15% higher than the same period last year (27) and more than three times in the prior period (9).  Condos saw 51 price reductions -- 11% higher than a year ago (46) and more than twice the number in the prior period (22).

As illustrated in the graphs above, if the typical cycle holds the number of new listings will start to drop by the time of our next report in two weeks.  That decline will continue through the New Year's holiday.

The number of new listings that went into contract in the last two weeks was consistent with a year ago (11.5% vs 11.6% for single family homes and 10.5% vs 9.6% for condos).