The following information is from the local MLS database, as of June 9, 2007, compared to (last week).
Total # of condos for sale in the city of Boston: 2,649 (2,643)
Average # of days on market: 114 (112)
Median price of all condos for sale in the city of Boston: $390,000 ($399,000)
Average price of all condos for sale in the city of Boston: $576,418 ($578,135)
Number of condos sold (closed) over past 30 days: 504 (460)
Median sales price, last 30 days: $380,000 ($385,000)
Average sales price, last 30 days: $524,782 ($507,332)
Average days on market: 107 (110)
Ratio, closing (sales) price to original (list) price: 94% (94%)
Number of properties going under agreement, last 30 days: 534 (538)
Total Market Volume (Velocity): $264,490,560 ($233,372,986)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Under agreements are staying strong. It was a late-starting, strong spring season, and it’s carried over into June, apparently. Things will cool off, considerably, now that we’re past Memorial Day.
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