I have updated my website with the latest market reports. This data shows the number of condos on the market, today, by neighborhood, and compares this to the total number sold over the previous twelve months. From this, you can get an idea of whether there is a glut or a shortage of properties available.
Mostly, there is a shortage of properties available, especially in the South End and Back Bay. A healthy market would be about three months’ supply (although some people say up to six months supply is better). That would mean buyers would be able to see a good number of possible purchases before narrowing their search to just one. Also, sellers would be able to get close to full asking, but maybe willing to negotiate, just a bit.
In some neighborhoods, there seems to be a higher number of available properties, and, therefore, more months of available inventory building up. I think this might be a matter of being in the Spring market, when most properties are put up for sale. It could reflect a slower market, however, and that would be good for buyers.
Originally posted 2005-05-19 14:47:00.