New Listing Market Watch - new listings continue to soar

This is the second two-week period where new listings topped 200% or more compared to the same period a year ago.

There were 497 new listings in the last two weeks (177 single family homes and 320 condos) compared to 241 new listings (103 single family homes and 138 condos) in the same period a year ago.

For comparison, during the last two weeks only 122 properties closed escrow (56 single family homes and 66 condos) -- only 24% of the number of new listings.

This was also the fourth two-week period in a row where price reductions were double what they were in the same periods a year ago.

The full report is on our web site along with other reports we publish.