More listings, more price reductions. The number of new listings in the last two weeks almost reached the record level of the prior two week period with 562 new listings (171 single family homes and 391 condos). 391 condo listings is the highest we've seen in a two week period since we've been keeping these records, eclipsing the previous record just set in the prior period of 365.
Compared to the same period a year ago total new residential listings are up 273% (562 vs 206). There were 171 new listings of single family homes compared to 86 a year ago and 391 condos compared to 120 a year ago.
The number of price reductions has also increased compared to the prior two week period. In the last two weeks there were 40 price reductions on single family homes vs. just 5 in the prior period. There were 170 condo price reductions compared to 151 in the prior period. Compared to a year ago there were just 9 single family home price reductions and just 17 for condos.
In summary, we have had five two-week period with over 300 new listings of condos and over 100 condo price reductions in the last four two-week periods.
See the full report at our web site.
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