New Listing Watch - the holidays are behind us but ....

... the number of new listings continue to lag behind what we saw a year ago.  In the last two weeks there were 281 new listings compared to 313 a year ago.  New listings were up compared to the prior two weeks period 281 vs 221.

The number of new listings that went into contract in the last two weeks remained essentially unchanged (13 single family homes vs 14 in the prior period and 25 condos compared to 28).  Compared to a year ago the number of single family homes going into contract was 13 vs 12 but condos were 25 vs 30.

The same scenario played out with price reductions.  For single family homes the number of price reductions in the last two weeks stayed largely unchanged compared to the prior period (4 vs 5) and compared to a year ago (4 vs 4).  For condos, however, the number of price reductions was up 21 vs 12 in the prior period and vs only 4 a year ago. 

You can find the full report on our website.

New Listing Watch - revised one day later

Just to show what a difference less than a day can make, we reran the report less than 12 hours after the original (see previous blog entry) 16 additional new listings showed up -- 8 single family homes and 8 condos.  That puts the total at 237 for the most recent two week period compared to 234 a year ago.

There were single digit changes in the number of listings that went into contract and the number of price reductions -- not enough to change the graphs.

New Listing Watch -- usual post holiday surge

As happens every year once the New Year holiday has passed, new listings have jumped up significantly -- 221 in the past two weeks compared to just 46 in the prior two week period.

The bulk of new listings were condos (147 vs 157 for the same period a year ago).  Single family homes accounted for 74 new listings compared to 77 a year ago.

The number of listings of single family homes that went into contract are down compared to the prior 2-week period (14 vs 19) but up compared to the same period a year ago (14 vs 10). Condos show a different trend -- up significantly compared to the prior two week period (28 vs 9) and the same ratio compared to a year ago.

Price reductions are in line with the numbers a year ago.