The following information is from the local MLS database, as of April 25, 2008, compared to (April 12, 2008) (and April 21, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,542 (2,543) (2,481)
Average # of days on market: 121 (121) (120)
Number of condos sold (closed) over past 30 days: 230 (216) (366)
Average days on market, sold units: 136 (130) (124)
Ratio, closing (sales) price to original (list) price: 93% (94%) (94%)
Median close price, 2008: $388,000
Median close price, 2007: $390,000
Average close price, 2008: $607,732
Average close price, 2007: $594,979
Number of properties going under agreement, last 30 days: 514 (434) (542)
Average days on market: 95 (104) (N/A)
Velocity: $139,778,289 ($120,296,908) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,538,187,566 ($1,565,917,810) (N/A)
My thoughts: What? You say the number of properties under agreement is only 5% less than last year, at this time? How can this be, sir? How can this be, with the national economy teetering on the edge of the GREATEST Depression this country has ever seen??? Robert Shiller says we’re facing drops in the value of housing of 30%! It’s the end of the world, the end of the world, I swear!
Oh, by the way, GDP probably increased this quarter, didn’t decrease. Sorry about that. I know you’re disappointed.
Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 3/25/2008 through 4/25/2008, and the period 3/25/2007-4/25/2007.