The following information is from the local MLS database as of August 16, 2008, compared to (August 9, 2008) (and August 18, 2007, where available).

Total # of condos for sale in the city of Boston: 2,062 (2,069) (2,312)
Average # of days on market: 135 (136) (127)

Number of condos sold (closed) over past 30 days: 461 (439) (510)
Average days on market, sold units: 95 (101) (87)
Ratio, closing (sales) price to original (list) price: 94% (93%) (95%)

Median close price, 2008: $372,500
Median close price, 2007: $370,565
Median under agreement price, 2008: $349,900

Average close price, 2008: $441,343
Average close price, 2007: $461,728
Average under agreement price, 2008: $448,611

# of properties going under agreement, last 30 days: 371 (399) (333)
Average days on market: 99 (99) (N/A)

Velocity: $203,459,322 ($194,523,406) ($228,791,740)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Although sales volume is off at least 10% compared to last year, inventory is off as well, meaning there still isn’t a glut on the market.

Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 7/16/2008 – 8/16/2008, and the period 7/18/2007 – 8/18/2007.

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