In this Boston real estate blog post I’ll share with you common use real estate terms that you may encounter on you Boston condo for sale home search.

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Average Price Per Foot

The average price per square foot cost is computed by adding the square foot cost of each Boston condo that has sold in an area (i.e. Back Bay) and dividing by the number of Boston condos that sold.

Average Sales Price

The average sales price is calculated by taking the total sales dollar volume for the area (i.e. Beacon Hill) and dividing it by the total transactions.

Average Sales Price vs List Price

The average sales vs list price (i.e. Midtown condo) is computed by finding the difference between all the listing and sales prices.

Average  Day’s on Market (DOM)

Average days on market is calculates by taking the total number of days for Boston real estate listing before it went pending or under agreement

Total Dollar Boston Condo Volume Sold

Total dollar volume sold is figured by adding the sales price of every listing together during a certain time period.Total Transactions The total transactions for a period are the number of listings that transferred ownership in that area.(i.e Seaport)

Approximate Absorption Rate

The absorption rate is the percentage of current Boston real estate for sale listings which should sell over the next month. It is calculated by dividing the average number of Boston condo sold per month by the total number of active listings. (The average number of Beacon Hill condos sold per month is calculated by taking the total number of homes sold over the past 12 months and dividing it by 12).

Approximate Months Inventory Supply 

Approximate months inventory supply is the number of months it would take to sell the current active inventory (i.e Midtown condos). It is computed by dividing the active listings on a certain date by the average number of homes sold in a month (The average number of homes sold per month is calculated by taking the total number of homes sold over the past 12 months and dividing it by 12).

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