Low Applications: The “Low Applications” badge is added to listings automatically if they have 3 or less applicants, starting with listings that so far have received zero applications. 

New: When listings are new or new dates have been added they will automatically be marked as ‘new’ for 24 hours before any other tags such as ‘low applications’ can be added.

Do note that once your listing is no longer marked as ‘new’,  if you decline some or all of your applicants then your listing will automatically be marked as ‘low applications’ when it meets the criteria above.