New Listing Market Watch - heading to the holidays

Key takeaways from today's New Listing Market Watch (comparison are between the last two week period and the same period a year ago):

• approximately the same number of new listings during the last two weeks compared to the same period a year ago (177 vs 168).  If normal trends hold, we will see fewer and fewer new listings until early 2017;  
  
  
  
  
  
• a third fewer of the new listing single family homes went into contract (17 vs 10) compared to a year ago (13.3% vs 21.0%);

• although there were 17% more condo listings during the last two weeks than a year ago (102 vs 87), about the same percentage went into contract (20.7% vs 17.6%);
  

• there was a more than 50% increase in the number of condo price reductions (46 vs 30) and a 46% increase in price reductions for single family homes (19 vs 13).
  

The full report (and the other reports we publish) is available at our web site:  www.boldsf.com/Statistics

New Listing Market Watch

The number of new listing during the last two weeks is 17% higher than the same period a year ago (287 vs 245).  

The percentage of those new single family home listings going into contract jumped up to 12% (about the same as a year ago but significantly higher than the last four two-week periods.

The number of price reductions is about the same as it was a year ago for single family homes (26 vs 21) but quite a bit higher for condos (62 vs 47).

The market continues to follow the same seasonal cycle as in previous years so we should see a continuous drop off of new listings between now and the first week of January.  Although inventory will be reduced this time of year can provide good opportunities for buyers with less competition.