Wednesday, January 3, 2018

New Listing Watch -- as low as it goes

Given the time of year and the quirks of the calendar, as expected we've reached "low tide" for new listings.  For the two weeks ending 1/1/2018 the number of new listings was 48 compared to 98 in the prior two week period and compared to a high of 403 for the last two weeks in September.

The graph makes it obvious that this cycle repeats annually.  So in our next report we expect to see over 200 new listings.

With so few new listings coming on the market the percentage going into contract rose from 32% to 40% for single family homes and 25% to 46% for condos.

Price reductions virtually disappeared with only 1 single family home and 5 condos experiencing reductions.  

Overall, there was no significant difference between this year (end of 2017) and the same period last year (2016).

As usual, the full report can be found at our web site:  and click on Statistics.

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