The following information is from the local MLS database, as of April 14, 2007, compared to (last week).
Total # of condos for sale in the city of Boston: 2,493 (2,332)
Average # of days on market: 119 (124)
Median price of all condos for sale in the city of Boston: $395,000 ($389,900)
Average price of all condos for sale in the city of Boston: $593,894 ($596,173)
Number of condos sold (closed) over past 30 days: 376 (352)
Median sales price, last 30 days: $362,500 ($355,000)
Average sales price, last 30 days: $493,805 ($509,905)
Average days on market: 121 (129)
Ratio, closing (sales) price to original (list) price: 94% (94%)
Number of properties going under agreement, last 30 days: 505 (494)
My thoughts: The number of listings on the market is going up, pretty quickly – 160 in one week. As I mentioned in an entry this week, it looks as though the “spring market” started a bit later than during previous years. Buyers should have no trouble finding the “perfect home” right now. Sellers need to be careful – if they don’t price their properties right, they’re going to have to wait a long time to sell.