Boston Real Estate Blog, Boston Condos » Boston condo inventory

Boston condo market comparison

John Ford — Sat, 23 Oct 2010 17:58:19 +0000

Boston condo comparison

10/23/09 with 10/23/10

10/23/2009

10/23/2010

Price Range

Number of
Listings

Avg. Days
on Market

vs. today

Number of
Listings

Avg. Days
on Market

Under $50,000

123

$50,000 – $99,999

118

$100,000 – $149,999

149

$150,000 – $199,999

135

130

122

142

$200,000 – $249,999

153

101

194

118

$250,000 – $299,999

217

114

266

126

$300,000 – $349,999

187

105

225

119

$350,000 – $399,999

195

119

188

$400,000 – $449,999

126

111

129

125

$450,000 – $499,999

129

115

114

107

$500,000 – $599,999

154

145

118

$600,000 – $699,999

126

125

109

124

$700,000 – $799,999

134

110

$800,000 – $899,999

139

145

$900,000 – $999,999

129

180

$1,000,000 – $1,499,999

123

136

115

139

$1,500,000 – $1,999,999

160

177

$2,000,000 – $2,499,999

214

229

$2,500,000 – $2,999,999

323

141

$3,000,000 – $3,999,999

208

218

$4,000,000 – $4,999,999

303

228

$5,000,000 – $9,999,999

235

249

Over $10,000,000

313

451

Total Properties

1988

Avg. 130

2003

Avg. 127

Lowest Price:	$21,900
Median Price:	$405,000
Highest Price:	$16,990,000
Average Price:	$693,561
Total Market Volume:	$1,378,800,500

Lowest Price:	$30,000
Median Price:	$389,000
Highest Price:	$16,990,000
Average Price:	$659,696
Total Market Volume:	$1,321,371,926

The above chart is a market snapshot of the Boston condo market today compared to one year ago.

Boston condos average days on market

John Ford — Thu, 30 Sep 2010 14:22:29 +0000

Average days on the market for current listings on MLS:

Back Bay condos – 165.13 days

Beacon Hill condos – 151.35 days

Charlestown condos – 103.77 days

Dorchester condos – 127.64 days

Jamaica Plain condos - 104.56 days

Midtown condos – 153.65 days

South Boston condos – 97.12 days

South End condos – 97.21 days

Only 36% of Suffolk County listings sold ‘09

John Ford — Sat, 21 Aug 2010 16:41:02 +0000

Redfin looked up the numbers for all Suffolk County sales listings put on the market in 2009, to see how many had sold by August 11, 2010. The answer? 36.1%.

The survey looked at homes that were listed for sale last year in Suffolk County and about 36% of those listings had sold by August 11, 2010, while just 393 or 2.5% of those listings were still active. The success rate looks at the number of listings that sold through the original listing agent; if someone hired an agent, and then changed agents, the home is added again to the count of new listings.

One conclusion from the Redfin study:

Many sellers aren’t willing to reduce their prices because they don’t want to sell their homes for less than the amount they owe…

Others simply think that they shouldn’t have to reduce their prices, often because they’ve plunked down lots of money for renovations that they had hoped would boost the value of their home. The buyers may be happy to pull their homes off and wait for the market to come back.

Boston condos: Days on market

John Ford — Thu, 05 Aug 2010 17:07:03 +0000

The avg. days on market for Boston condos:

Back Bay Condos – Avg. market time 156.16 days.

Beacon Hill Condos – Avg. market time 152.64 days.

Charlestown Condos – Avg. market time 113.63 days.

South Boston Condos – Avg. market time 103 days.

South End Condos – Avg. market time 99.35 days.

Boston housing update

John Ford — Thu, 22 Jul 2010 16:21:13 +0000

Click chart to enlarge.

Wall Street Journal reports on the outlook of the housing market. Here are few stats regarding Boston:

Months supply of inventory – 6.1

Jobless rate – 8.3%

Loan payments overdue – 8.7%