Weekly Boston Condo and Real Estate Sales and Listings Update, August 23, 2008
The following information is from the local MLS database as of August 23, 2008, compared to (August 16, 2008) (and August 25, 2007).
Total # of condos for sale in the city of Boston: 1,999 (2,062) (2,293)
Average # of days on market: 136 (135) (127)
Number of condos sold (closed) over past 30 days: 474 (461) (536)
Average days on market, sold units: 93 (95) (91)
Ratio, closing (sales) price to original (list) price: 94% (94%) (95%)
Median close price, 2008: $375,075
Median close price, 2007: $360,000
Median under agreement price, 2008: $359,000
Average close price, 2008: $438,168
Average close price, 2007: $436,425
Average under agreement price, 2008: $476,943
# of properties going under agreement, last 30 days: 333 (371) (297)
Average days on market: 99 (99) (N/A)
Velocity: $207,691,522 ($203,459,322) ($228,791,740)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: No one’s listing! Typical end-of-summer drop in inventory. What’s gonna happen this fall? We’ll see. My prediction? Volume the same as last year (which was lower than 2006 & 2005), and prices about the same, on average.
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 7/23/2008 – 8/23/2008, and the period 7/25/2007 – 8/25/2007.
