Monday, October 7, 2019

New Listing Market Watch - past the peak

Following two two-week periods since Labor Day of increases in new listings, the number of new listings in the most recent two weeks is down  (403 vs 505 in the previous period and vs 441 four weeks ago). 



That's still more than we saw a year ago which posted 383 new listings. The difference is entirely in the condo category:  264 vs 229 a year ago.  There were 10% fewer new listings of single family homes compared to a year ago:  139 vs 154.



The percentage of new listings that went into contract is up slightly compared to the previous period and compared to a year ago.  For single family homes 12.9% went into contract vs 11.5% in the prior period and 9.7% a yea ago.  For condos 11.0% vs 10.5% in the prior period and 5.2% a year ago.



Price reductions for single family homes was the same as the prior period and down compared to a year ago:  31 vs 31 in the prior period and vs 37 a year ago.  For condos there were 73 price reductions compared to 51 in the prior period and 81 a year ago.



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