New Listing Watch - summer solstice report

For the past two years we've seen an uptick in new listings during this middle week of June, apparently to get properties on the market before the Independence Day holiday.  That's true again this year but mostly for condos.  In the past two weeks there were 196 new condo listings compared to 167 during the previous two-week period.  Single family homes saw only 127 new listings compared to 123 during the previous period.

Compared to a year ago the total number of new listings for the last two weeks was down:  323 vs 361. 

Assuming the usual annual trend continues we should see a significant drop off of new listings until Labor Day.

The percentage of single family homes new listings that went into contract in the same two week period has held fairly steady since mid March -- 16.5%.  For condos it was 17.3% and has been steady since early May.

Price reductions have jumped up compared to the prior period:  16 single family homes saw price reductions vs only 6 in the prior period and 43 condos vs 22 in the prior period.

For the full report, see our web site http://www.boldsf.com/Statistics%20test/Statistics.html