I thought it would be interesting to plot units of inventory and number of units going under agreement and number of units sold, over the past fifteen months.
The number of units for sale includes just condos, within the city of Boston, as reported by our local Multiple Listing Service.
The number of units going under agreement is over the past 30 days, and the number of units sold is over the past 30 days, for any plot point.
Results, here (click for full-sized graph):
What does it tell us? Well, you can see that inventory ballooned last year, as owners panicked and put their properties on the market at a higher rate than they had before (or since).
Number of sales and number of under agreements stayed somewhat constant.
The number of under agreements is usually more than the number of sales during the spring and fall. This is because it’s when most buyers are making offers and putting properties under agreement. Sales numbers are delayed, because although buyers make offers at the same time, they agree to close anywhere from 30 days to 90 days out, or longer. This is why you see units sold overtaking units under agreement, during the summer months.
If you have any questions or comments, please leave them, below.