The following data compares the Boston real estate market of today, April 6, 2007, with a year ago, April 15, 2006 (today’s numbers are first, a year ago’s in parentheses).
Total # of condos for sale in the city of Boston: 2,332 (2,992)
Average # of days on market: 124 (104)
Median price of all condos for sale in the city of Boston: $389,900 ($389,000)
Average price of all condos for sale in the city of Boston: $596,173 ($558,758)
Number of condos sold (closed) over past 30 days: 352 (320)
Median sales price, last 30 days: $355,000 ($354,000)
Average sales price, last 30 days: $509,905 ($459,660)
Average days on market: 129 (99)
Ratio, closing (sales) price to original (list) price: 94% (93%)
Number of properties going under agreement, last 30 days: 494 (497)
My thoughts: Could things be more equal? (Actually yes, since average days on market is over a month longer, now vs. a year ago.) (Probably, though, today’s higher number is because a lot of listings have been on the market FOREVER but owners haven’t lowered their properties enough to make them attractive to buyers.)
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