The following information is from the local MLS database as of January 31, 2009, compared to (January 24, 2009) and (February 2, 2008).

Total # of condos for sale in the city of Boston: 1,615 (1,608) (2,025)
Average # of days on market: 151 (152) (147)

Number of condos sold, past 30 days: 139 (148) (186)
Average days on market, sold units: 122 (110) (112)
Ratio, closing/sales price to original/list price: 90% (90%) (95%)
Months’ supply of condos: 11.62 (10.86) (10.89)

Median close price, last thirty days, this year: $265,000
Median close price, last thirty days, last year: $415,000

Average close price, last thirty days, this year: $369,983
Average close price, last thirty days, last year: $591,822

# of properties going under agreement, last thirty days: 191 (165) (238)
Average # of days on market: 137 (126) (130)

Velocity: $51,427,645 ($53,585,721) ($110,227,297)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Under agreements jumped compared to last week, but lower than last year. The dollar amount of sales this year is less than half of last, due to the values of the foreclosed or short-sale properties.

Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 12/31/2008 – 01/31/2009, 12/24/2008 – 01/24/2009, and 01/02/2008 – 02/02/2008.

boston real estate

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