The Boston Globe has a story out today that downtown Boston condo sales fell 15%, between 2004 and 2005, citing statistics from LINK, the online database that most real estate agents use.
Sales in 2005 began strongly, with the first-quarter exceeding sales in 2004’s first quarter, according to a year-end summary by Listing Information Network (Link) being released to its clients tomorrow. Sales weakened during each of the remaining three quarters. At year-end, 3,903 condos sales were closed in the city’s 12 downtown neighborhoods tracked by Link, compared with 4,586 in 2004.
Now, how could anyone argue with that?
Well, a contrarian could.
In fact, there are two online databases – LINK and MLS. In the past, LINK was the database everyone used. Over the past several years, however, more and more agents have begun to use both databases to list and find real estate for sale.
What does MLS say? In 2004, there were 1939 condos sold in downtown Boston (MLS and LINK define neighborhoods differently; MLS, for example, as a "Theater District" neighborhood and LINK, for example, breaks out "Bay Village" as a separate neighborhood). In 2005, there were 2275 condos sold in downtown Boston.
That’s a 14.7% increase in sales.
Okay, that was fun.
In truth, sales must have dropped off toward the end of last year. Everyone knows that. I’m just sayin’, stats CAN lie.
Complete article: Downtown Boston condo sales fall – by Kimberly Blanton, The Boston Globe