The following information is from the local MLS database, as of August 13, 2006.
Total # of condos for sale in the city of Boston: 2876 (-51)
Average # of days on market: 124 (+1)
Lowest priced condo in city of Boston: $105,900, a 428 square foot one bedroom in Dorchester.
Second lowest priced condo in city of Boston: $110,000, a 483 square foot one bedroom in Mattapan.
Highest priced condo in city of Boston: $13,995,000
Median price of all condos for sale in the city of Boston: $379,000 (-$1,000)
Average price of all condos for sale in the city of Boston: $558,015 (-$5,000)
Number of condos sold (closed) over past 30 days: 437 (+7)
Median sales price, last 30 days: $340,500 (-$9,000)
Average sales price, last 30 days: $403,155 (-$17,000)
Average days on market: 91 (+2)
Ratio, closing (sales) price to original (list) price: 94% (same)
Number of properties going under agreement, last 30 days: 392 (+5)
My thoughts: Drop in average sales price of properties going under agreement probably not significant, in the scheme of things. Otherwise, things are steady.
I’ve had a pick up in phone calls from prospective homebuyers. Several first-time homebuyers, in fact. Maybe people aren’t scared, anymore? Could just be typical fall bounce.