This graph tells all.
The number of new listings fell to it's lowest level of the year with a total of only 95 properties, 43 single family homes and 52 condos. During the same two week period last year the total number of new listings was 147. The difference is partly explained by the lateness of the Thanksgiving holiday weekend this year. Last year it was almost two weeks earlier.
The total number of new listings since the beginning of the year so far is 6,921. For the same period last year the total was 7,050.
The number of price reductions also fell in the last two weeks: 8 single family homes saw new price reductions along with 32 condos. That's more than a 50% reduction from the prior period. Compared to a year ago condos were virtually unchanged (32 vs 33) but there were fewer single family home price reductions (8 vs 18).
The number of new listings going into contract fell to 8 for single family homes compared to 18 in the prior period and compared to 8 a year ago. 6 condos went into contract compared to 13 in the prior period and only 2 a year ago.
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