Below is a report of sales and listing activity for the past week. Information is derived from LINK, the online database that is used by most Boston real estate agents.
New listings: 50
Back on market (listings that went under agreement but deals fell through): 8
Price changes (almost always downward, but some go up): 55
Under agreements: 60
Off market (variety of reasons, but sometimes these are old listings that never sell): 64
ON MARKET DATA:
Total number of listings: 2554 (-68)
Average asking price: $637,600 (- $1,400)
My opinion: Slow week, due to holiday, of course. Still, under agreements didn’t go down that much. Honestly, it won’t take much, at this point, to bring things into balance. Between 60-90 properties have been going under agreement, each week, over the past couple of months. If you add another 25 per week, and if sellers continue to pull their properties off the market at the same rate as today, then you will bring the properties for sale down to a more reasonable 2200 or so, pretty quickly. I think that is very possible, once we get into January and February.