New Listing Watch -- September comes in with a roar

Although a surge of new listings is totally predictable for the week following Labor Day, this year's surge is the largest since 2015.

There were 444 new listings in the last two weeks compared to 383 during the same period last year - a 16% increase.  192 were new listings of single family homes compared to 155 a year ago and 252 new listings of condos compared to 228 a year ago.

With the surge in new listings only 9% of single family home new listings went into contract during the same period and 9.5% of condo new listings went into contract.  But both of those are higher than a year ago.

There were only 4 price reductions of the new listing single family homes -- down dramatically from the previous two week period when there were 14.  Price reductions of the new listing condos more than doubled from 16 in the prior period to 34 in the past two weeks.

You can find the full report at our web site www.boldsf.com/Statistics