Weekly Boston Real Estate Sales and Listings Update, January 8, 2007
The following information is from the local MLS database, as of January 8, 2007.
Total # of condos for sale in the city of Boston: 1,919
Average # of days on market: 151
Median price of all condos for sale in the city of Boston: $399,000
Average price of all condos for sale in the city of Boston: $600,410
Number of condos sold (closed) over past 30 days: 284
Median sales price, last 30 days: $335,000
Average sales price, last 30 days: $423,189
Average days on market: 115
Ratio, closing (sales) price to original (list) price: 92%
Number of properties going under agreement, last 30 days: 239
My thoughts: Things seem steady. Will have to wait to see if sellers re-list their properties or decide to wait until the spring market.
There were 2,130 properties on the market on January 6, 2006; in 2005 there was only 1,172. However, the very low number in 2005 was more a result of fewer Boston agents using MLS than a major increase in inventory.
If there are less than 2,000 properties on the market, things are pretty tight. Obviously, fewer people are looking for a home in January / February, but if you are, sellers have a bit of an advantage, if you compare supply vs. demand. Of course, if the seller’s home has been on the market for four months …
