The following information is from the local MLS database as of December 27, 2008, compared to (December 20, 2008) and (December 25, 2007).

Total # of condos for sale in the city of Boston: 1,575 (1,638) (2,039)
Average # of days on market: 154 (148) (151)

Number of condos sold, past 30 days: 184 (211) (272)
Average days on market, sold units: 100 (110) (110)
Ratio, closing/sales price to original/list price: 90% (90%) (92%)
Months’ supply of condos: 8.55 (7.76) (7.49)

Median close price, last thirty days, this year: $300,000
Median close price, last thirty days, last year: $379,000

Average close price, last thirty days, this year: $422,587
Average close price, last thirty days, last year: $537,804

# of properties going under agreement, last thirty days: 160 (200) (211)
Average # of days on market: 123 (123) (110)

Velocity: $77,756,020 ($96,776,745) ($143,760,300)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: I didn’t update last year’s numbers because I think it’s good to compare the “last full week” of each year.

* IMPORTANT: Starting in January, 2009, we will begin using sales data from LINK, not from MLSPIN. LINK data is more accurate, as its information is pulled directly from the Suffolk County Registry of Deeds.

Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 11/27/2008 – 12/27/2008, and the period 11/25/2007 – 12/25/2007.

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