The following information is from the local MLS database as of January 10, 2009, compared to (January 3, 2009) and (January 13, 2008).
Total # of condos for sale in the city of Boston: 1,569 (1,464) (1,991)
Average # of days on market: 154 (155) (155)
Number of condos sold, past 30 days: 185 (202) (221)
Average days on market, sold units: 100 (95) (124)
Ratio, closing/sales price to original/list price: 90% (91%) (92%)
Months supply of condos: 8.48 (7.25) (9.00)
Median close price, last thirty days, this year: $315,000
Median close price, last thirty days, last year: $385,000
Average close price, last thirty days, this year: $449,488
Average close price, last thirty days, last year: $570,699
# of properties going under agreement, last thirty days: 138 (163) (154)
Average # of days on market: 110 (127) (125)
Velocity: $83,155,344 ($91,041,085) ($125,800,124)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: There is no change.
Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 12/10/2008 – 01/10/2009, 12/03/2008 – 01/03/2009, and 12/13/2007 – 01/13/2008.
* IMPORTANT: I did not change to using LINK data since LINK data does not report average and median sales prices. LINK does a great job of tracking sales info from the Suffolk County Registry of Deeds, but that’s about the only difference.
