Boston condos and Boston real estate sales and listing information, November 15, 2008
The following information is from the local MLS database as of November 15, 2008, compared to (November 8, 2008) and (November 17, 2007).
Total # of condos for sale in the city of Boston: 1,996 (2,009) (2,400)
Average # of days on market: 132 (133) (132)
Number of condos sold over past 30 days: 253 (293) (250)
Average days on market, sold units: 103 (82) (100)
Ratio, closing/sales price to original/list price: 93% (93%) (94%)
Months’ supply of condos: 7.88 (6.85) (9.60)
Median close price, last thirty days, this year: $317,000
Median close price, last thirty days, last year: n/a
Median under agreement price, last thirty days: $294,000
Average close price, last thirty days, this year: $460,928
Average close price, last thirty days, last year: n/a
Average under agreement price, last thirty days: $409,223
# of properties going under agreement, last thirty days: 244 (226) (262)
Average days on market: 113 (111) (101)
Velocity: $116,614,690 (198,805,965) ($121,820,067)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Velocity sky-rocketed the past two weeks due to closings at Battery Wharf being posted in MLSPIN. This week the numbers are “back to normal”. I see “parity” to last year’s numbers, but there are almost 20% fewer listings than last year (last year’s inventory was off about 12% from 2006, btw).
Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 10/15/2008 - 11/15/2008, and the period 10/17/2007 - 11/17/2007.