The following information is from the local MLS database, as of October 13, 2007, compared to (October 6, 2007).
Total # of condos for sale in the city of Boston: 2,494 (2,468)
Average # of days on market: 125 (122)
Median price of all condos for sale in the city of Boston: $385,000 ($380,000)
Average price of all condos for sale in the city of Boston: $583,185 ($590,039)
Number of condos sold (closed) over past 30 days: 257 (265)
Median sales price, last 30 days: $390,000 ($380,000)
Average sales price, last 30 days: $505,481 ($476,473)
Average days on market: 97 (97)
Ratio, closing (sales) price to original (list) price: 95% (95%)
Number of properties going under agreement, last 30 days: 290 (259)
Total Market Volume (Velocity): $129,908,632 ($126,265,561)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Seems as though things are going slowly, this fall season. The spring season started late, but ended up being quite strong. It remains to be seen if this will happen, however. (Expect to hear at least one or two real estate agents say this week, “Well, of course it’s slow, the Red Sox are in the playoffs, people aren’t focused on buying real estate!!!”)
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 09/13/2007 through 10/13/2007.
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